Word: warners
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...your word. Live and learn." Munro said the Paramount offer consisted of "smoke and mirrors," since it was subject to several conditions that included Paramount's ability to obtain financing and regulatory approval, a process almost certain to take longer than the Time-Warner proposition had. Such conditions, Munro argued, could not be met by the July 5 deadline that Paramount set on its bid for Time shares. The letter added, "Hostile takeovers are a little like wars: once they start, it's impossible to tell where they may end. The full effect of what you've set in motion...
...rebuffed on each occasion. As a result, Davis told TIME senior correspondent Frederick Ungeheuer, "I said we would not do anything hostile and would respect Time's decision to remain independent." But Time then "put itself up for sale," Davis argued, by agreeing to merge with Warner. He said the deal would end Time's independence because the merger would give Warner shareholders 60% of the stock of the combined company...
...some respects, a Time-Paramount combination would create a company similar, in structure if not in control, to the one envisioned in the Time- Warner deal. Time's magazine and book publishing operations, which include TIME, PEOPLE, SPORTS ILLUSTRATED and TIME-LIFE Books, might dovetail effectively with Paramount's book division. Time's cable television programming units, including Home Box Office and Cinemax, could mesh with Paramount's film-studio and television ventures. Time's cable-television systems would provide distribution vehicles for that product. Warner, meanwhile, has film, cable-TV and publishing units and differs from Paramount in owning...
...some important ways, however, the matchups look quite different. For one thing, the debt-free nature of the Time-Warner deal would have given the merged company far more flexibility than a Time-Paramount consolidation might have. "The Time-Warner combination left everybody's powder dry to be able to go out and make acquisitions," says Larry Gerbrandt, a vice president of Paul Kagan Associates, a California-based communications-industry analyst. "But in a tender offer like Paramount's, you have to load up with a tremendous amount of debt that limits your options. The strategy can work...
...magazines. "Not only will we maintain editorial independence," Davis insisted, "we will demand it." Journalists at Time Inc. were concerned because, reassuring as such statements made in the heat of battle may be, they fall well short of the written, legal guarantees that had been cemented into the Warner merger...