Word: warner
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...Yugoslavia, but the totality of the tragedy demands more space than any magazine can give it. That's why, when the idea of mounting a photographic exhibit was presented to TIME's managing editor Jim Gaines and picture editor Michele Stephenson, they jumped at the opportunity. "Life and Time Warner had already sponsored an exhibit on Somalia, and we felt we should do the same for Bosnia," says Stephenson. "It was a chance to tell the whole story -- all sides and facets." The result is "Faces of Sorrow," a collection of 64 images that document the cruelties and suffering that...
...Paramount Communications look like a marriage made in heaven. The merged company, to be called Paramount Viacom, would unite Paramount's film and television studios with Viacom's cable systems and its networks such as MTV and Nickelodeon. Result: a global giant primed to compete with heavyweights like Time Warner, Tele-Communications Inc. (TCI) and Rupert Murdoch's News Corp. in everything from making movies to building an interactive electronic highway into the home. "It's absolutely the best fit" of all the recent media mergers, says Frank Mancuso, former president of Paramount and now head...
...first to clear his throat was Ted Turner, the freewheeling founder of CNN, who just last month struck a deal to buy two much smaller movie companies. On Friday he was given the go-ahead by his board -- which includes representatives from his big investors, TCI and Time Warner -- to explore a rival offer. Barry Diller, chairman of the QVC shopping network, is also interested, as is Blockbuster Entertainment. Further tangling the web: TCI chairman John Malone, who is Diller's equity partner as well as Turner's, could make a bid either alone or in conjunction with the other...
...while such synergistic ideas sound good at the outset, they could prove difficult to engineer. For instance, Viacom plans to award rights to a film based on MTV characters Beavis and Butt-head to Paramount instead of Warner Bros., as originally planned. But impresario David Geffen spent a good part of last week fighting Viacom's Sumner Redstone to keep the film at Warner...
...firm would battle rival giants across a vast range of entertainment and information markets at home and abroad. Viacom and AT&T are building an interactive cable-TV system in Castro Valley, California, that has similarities to one that Time Warner has under construction in Orlando, Florida. At the same time, MTV competes overseas with Rupert Murdoch's British Sky Broadcasting and Ted Turner's CNN. But industry watchers say such clashes of the titans don't have to be fatal. Says Christopher Dixon, an industry analyst for Paine, Webber: "There's room on the planet for all these guys...