Word: tisch
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...Diller wasn't furious at the Robertses, others were mad enough at the family to make up for the omission. "Hollywood couldn't have written a script like this," snapped a source close to CBS chairman Laurence Tisch. "All these cable-cum-broadcasting people, they have three traits: they're phenomenally greedy, they're phenomenally jealous, and they're filled with a lot of hate for their competitors...
...Robertses' bid not only reaffirmed Diller's status as a mogul manque, but it left CBS on the block for a takeover attempt by anyone from the Walt Disney Co. to cable-TV magnate Ted Turner. By agreeing last month to join forces with QVC, Tisch, 71, had shown himself willing to cash in half of his 20% stake in the network and to hand the titles of president and chief executive officer to Diller. Now, with the QVC deal gone aglimmering, CBS had what amounted to a COMPANY FOR SALE sign on its black granite headquarters in New York...
...Tisch moved fast to limit the damage. Declaring that "the merger discussion is at an end," he immediately walked away from QVC. "There was no chance," Diller recalls. "We absolutely knew that if Comcast made a competitive offer that Mr. Tisch would be gone in 10 seconds." To keep CBS stock from collapsing over the failure of the deal, Tisch immediately launched a $1.1 billion offer to buy back 22.6% of the company's shares for $325 a share. At the same time, Tisch partly made up for the defection of eight major CBS affiliates to the Fox network...
...those with a taste for both melodrama and irony, it would be appealing if Tisch -- widely considered the duller of the two men -- were cunning enough to use Diller as bait for an even more robust suitor. Why, it would be the stuff of network television. Greed! Lust! Power! Infighting! Backbiting! The Barry and Larry Show, with a few mystery guest stars, could be CBS's hottest program this summer...
...LAURENCE TISCH...