Word: viacom
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...Viacom Inc., which owns MTV and other show businesses, announced a planned $8.2 billion acquisition of Paramount Communications. But at week's end two other TV titans -- QVC chairman Barry Diller and Turner Broadcasting -- were reportedly considering their own, separate bids for Paramount...
...video-game industry is being propelled forward by a technological imperative that is reshaping most forms of entertainment. America's telemedia giants -- from AT&T and Time Warner to Tele-Communications Inc. and the proposed Paramount-Viacom combo -- are spending billions to turn today's passive television broadcast system into a two-way, interactive information highway capable of delivering not just movies, sitcoms and news on demand, but the world's greatest video games as well...
That relentless will to survive and conquer has now led Redstone, 70, the chairman of MTV-owner Viacom Inc., to launch what could be the business coup of a lifetime. At an age when most executives are thinking country clubs and conferences, Redstone last week engineered an $8.2 billion offer to acquire Paramount Communications for $69.14 a share in cash and stock and thereby create one of the world's media giants.Since Redstone would hold 70% of the voting stock of the combined company, he would have majority control of more movies, books and television shows than any other media...
...bedroom home in Newton, Massachusetts, that he and his wife Phyllis paid $42,000 for 35 years ago. He favors the less fancy Pine Brook Country Club in nearby Weston over the prestigious Longwood Cricket Club in Brookline. He spends weekdays in Manhattan's Carlyle Hotel to be near Viacom headquarters. Often rising at 5 a.m., he reads the morning papers and then works out on a treadmill while watching TV. His days last up to 18 hours. "I live modestly," Redstone says. "Possessions don't count. Achievement counts. Winning counts...
...burst of activity makes Murdoch a formidable force in the fast-evolving world of media alliances and the race to develop an electronic superhighway into the home. It pits the Australian-born mogul and his partners against such giants as Time Warner, AT&T and cable-firm Viacom International, which are rushing to build interactive systems of their own. At the same time, the star tv and BSkyB deals enable Murdoch to bestride the television world. When asked whether he intends to build a global TV network, Murdoch booms out, "Oh, absolutely...