Word: viacom
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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...
...test and deploy itsworldwide interactive TV. Part of the deals: Hewlett-Packard and NEC will join General Instrument in developing TV set-top boxes compatible with the Microsoft's Tiger TV software system. Some industry analysts think Microsoft, seen as lagging behind similar interactive projects from Time Warner, Viacom,Bell Atlanticand others, might now be poised to pull ahead. The company's chief, Bill Gates, predicts a mass market for interactive television in five to eight years, but in January he'll be testing his system in Seattle.Post your opinion on theNew Mediabulletin board...
Software giant Microsoft today announced it would test its "Tiger" interactive TV software in Europe by early 1996 -- a several-city experiment well beyond the scope of its demo early next year in Seattle. The video server technology -- like similar highway efforts from Time Warner, Viacom, Bell Atlantic and others -- lets viewers retrieve programs, concerts and, for instance, watch a music video before buying CDs and concert tickets. TIME senior writer Philip Elmer-DeWitt says Microsoft's $8 billion capo, Bill Gates, is well positioned to repeat his software success in the next info revolution, and other giants want...