Word: viacom
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Dates: during 2000-2009
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Vivendi narrowed the field to one after many months of shopping, flirting and haggling with a long line of suitors that included Viacom, MGM, Liberty Media and finally Edgar Bronfman Jr., the former Seagram CEO who sold Universal to Vivendi in the first place...
...WENT TO THE SUN VALLEY GATHERING OF MEDIA MOGULS. WHAT HAPPENED THERE? I was there to ski. [Viacom CEO] Sumner Redstone won the slalom. I'd be happy if you printed that...
...suggested that Davis "take a hike." That bit of pride is proving costly. Last week, a promising suitor, MGM, pulled out of the auction, saying the price Vivendi now seeks - $14 billion - is too high. MGM reckoned the package was worth no more than $11.5 billion. Two days later, Viacom hinted its interest had waned. That leaves only three bidders, some of which won't pay cash. No wonder Vivendi stock fell over 7% last week. Open Road To Privatization The French government dumped a €1.2 billion stake in Renault, reducing its holding in the carmaker to 15%. Lawmakers...
Populist outrage is threatening to undo a controversial effort by the FCC to loosen restraints on media megaliths. In the Senate last week, seven Republicans joined 28 Democrats to schedule a rare "resolution of disapproval" to overturn new FCC rules that would let companies like News Corp. and Viacom expand their media holdings in local markets. Then in the House, defecting Republicans fueled a 40-to-25 committee vote to reverse part of the FCC's action...
...octopus to do? Don't fear: looser rules passed this month in the U.K. permitting some foreign ownership of media assets might offer Viacom a welcome distraction. Taking Stock - And Selling It Fiat stock tumbled for a day last week after one of its biggest shareholders, Deutsche Bank, declined to put up fresh money for the beleaguered Italian automaker, which is asking shareholders for a capital increase. It was the latest sign of a policy shift by Deutsche CEO Josef Ackermann. For decades, Deutsche amassed a huge portfolio. But now Ackermann, who has been indicted for alleged breach of trust...