Word: warners
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Dates: during 1980-1989
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...approved by Time and Warner shareholders, the merger would create a company that will have annual revenues of more than $10 billion and a market value of $18 billion. It would combine Time's magazines and its hardcover-book publishing, its cable programming and its cable-TV operations with Warner's movie, TV and video production, music labels, cable systems, paperbacks and comic books. The new company would include not only Time's stable of talented journalists, spread over two dozen magazines, but also Warner's Mad magazine, Superman comics and such recording artists as Madonna and U2. The businesses...
...Time and Warner were moved to merge by the growing global consolidation in the communications business and by the many foreign acquisitions of American companies. In recent years, West Germany's Bertelsmann bought RCA Records and the Doubleday and Bantam Books publishing houses; Britain's Robert Maxwell took over Macmillan publishers; Japan's Sony acquired CBS Records; and Australian-born Murdoch (now a U.S. citizen) accumulated newspapers, magazines, a movie studio and a TV network. Said Time's Munro: "We see Maxwell, Murdoch, Bertelsmann and Sony coming into our market and raising hell, and we see this ((merger...
...with any large merger, the Time-Warner deal will be reviewed by the Government to see if it poses any antitrust or other regulatory problems. The only major overlap between the two companies is that they are both big operators of local cable-TV systems. After the merger, Time Warner will serve 5.6 million customers, or 12% of U.S. households with cable. The new operation will still be smaller than the largest cable company, Tele-Communications, which serves 24% of the industry's customers. Experts say that unless President Bush takes a tougher antitrust stance than the Reagan Administration...
...both the production and distribution of cable-TV programming. Metzenbaum noted that in most communities there is only one cable operator. He fears that such operators might rely too heavily on programs produced by a parent company, and thus offer fewer choices to their cable subscribers. Time and Warner executives do not think this is a real problem. "How does a cable operator make money?" asked Ross. "By offering the widest selection of programs to customers...
...merger raises the possibility of conflicts of interest among the various parts of the Time-Warner empire. Could, for example, a Time publication objectively review a Warner Bros. movie? Certainly, said TIME Editor in Chief Jason McManus, who pointed out that for years TIME and PEOPLE have been reviewing, both favorably and unfavorably, shows produced by the company's Home Box Office cable service. In forming their union, Time and Warner officials agreed that a commitment to journalistic and artistic integrity was absolutely essential. When asked what would happen when one of the Time magazines panned a Warner film, Ross...