Word: viacom
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Dates: during 1990-1999
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...affirmative action, a set of programs designed to help the disadvantaged, Frank Washington stands to benefit from a subsidy worth at least $400 million. Simply because he is black, Washington and his partners were able to make a special tax deferral part of their $2.3 billion acquisition of Viacom Inc.'s cable systems. Under the provision, a company that sells a cable system to a partnership controlled by a minority can qualify to defer its capital gains on the sale indefinitely. The law was designed to encourage minority ownership of broadcast properties, a fact Washington knows better than most...
What they found was the Viacom New Media release, Club Dead. It's a CD-ROM adventure game for IBM PC and compatibles, and, according to its publishers, it's the first CD-ROM that "truly delivers on the sensibility...
Sweetened by a tax loophole for big companies selling media properties to minority owners, Viacom Inc., the entertainment giant, will sell its cable-TV unit to a partnership backed by Tele-Communications, Inc., the top U.S. cable operator. Price tag: $2.3 billion. The deal will create the country's largest minority-owned cable system...
...People are rated not only for their ability to give, but also for their willingness to give," Lakeman said. "For example, an alum like [Viacom head] Sumner Redstone ['43-'44] has more money than most people, but you have to see if he has anything to do with the Law School...
...then caught the first flight to Los Angeles. From a starting job at L.A. Weekly, he rose to positions as senior writer at Rolling Stone and West Coast bureau chief at US magazine. Since he joined TIME a year and a half ago, his assignments have included the Paramount-Viacom deal, the O.J. Simpson case and Quentin Tarantino's Pulp Fiction...