Word: viacom
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Finally, CBS is doing the right thing about "The Reagans." Under pressure the network has decided not to air the two-part biopic, steering it instead to the cable outlet Showtime (like CBS, owned by Viacom). But just because a far smaller audience will now see the film (Showtime draws maybe a million viewers on a top night) doesn?t make this story any more accurate. According to the screenplay for ?The Reagans,? my father is a homophobic Bible-thumper who loudly insisted that his son wasn?t gay when Ron took up ballet, and who in a particularly scathing...
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...
SMITH: I think you would still be steering away from noneconomically sensitive companies. You would rather own a Viacom than Procter & Gamble. P&G is a great company, but as the economy starts to get better, you would rather have something that has some economic sensitivity to it. You would rather own a Merrill Lynch or a Morgan Stanley than you would a bank. Over the intermediate term, I like media stocks, like Viacom and Clear Channel, Univision. In retail, I like Target and Best Buy. Wal-Mart will be O.K. I like Citigroup...
...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...