Word: warners
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...JOHN: IN A SENTIMENTAL MOOD (Warner Bros.). When jazz meets up with rhythm and blues, it's usually less a shoot-out than a sellout: one or the other gets sold short. Dr. John, a surgical master at the piano and a good, gruff vocalizer, is one physician with a solid prescription to do each style right -- and proud...
...move was calculated to turn up the heat on Time, which had rejected Paramount's initial bid two weeks ago and instead pressed ahead with its planned merger with Warner Communications. To that end, Time and Warner on June 16 converted their original debt-free stock swap into a leveraged takeover bid in which Time would buy Warner for a total of up to $14 billion in cash and securities, a step that, among other things, eliminated the need for the deal to be approved by Time stockholders...
...latest agreement replaced a March merger proposal that called for Time to acquire Warner in a swap of 0.465 shares of Time stock for each Warner share. But some on Wall Street had complained that the deal gave Time shareholders no immediate financial reward. "The marketplace has told us we can do better," said Time's Nicholas, 49. "We're still acquiring Warner, but now we're using cash." Nicholas acknowledged that the combined company's earnings would suffer in the short run, but he argued that the company's value will be evident to anyone who examines its assets...
...Time-Warner combination would take on a heavy load of new debt, as much as $14 billion. The company (estimated total revenues: $10 billion) would have an estimated cash flow of $2 billion, which would be tapped for loan payments. "These are great organizations with very good cash flows, so the debt doesn't have to be a negative," observes William Farley, chairman of Chicago- based Farley Industries, which took over West Point-Pepperell in a hostile bid this year. But, he adds, "it takes a certain kind of management to deal with that kind of debt. You're that...
...company rejects Paramount's hostile takeover bid and refashions its agreement to acquire Warner in a deal that could ultimately cost $14 billion and create a heavy load of debt...