Word: warners
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Dates: during 1990-1999
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...world's last two international media conglomerates today announced that they would merge. BMCAA Viafox (created out of Bertelsmann, MCA, CAA, Viacom and Fox) agreed to accept a bid of $638 billion in cash and stock from Disony GETCITWest (formed from a fusion of Disney, Sony, GE, TCI, Time Warner and Westinghouse). The new entity, which now controls all entertainment on film, TV, CD, video, telephone and computer, will be called, simply, Diller...
...week bought into a skein of uhf TV stations to get back in the game. It is also a pipe nightmare for those who believe competition is the soul of both capitalism and pop-cultural creativity. But another deal last week brought the scenario a step toward plausibility. Time Warner and Turner Broadcasting System declared they were deep in negotiations that could lead to a Time Warner purchase, led by chairman Gerald Levin, of Ted Turner's prize fleet of media properties. If it flies, the deal would again make Time Warner the world's largest media outfit, vaulting over...
...Time Warner would pay off TBS shareholders with a pile of stock valued at about $8.5 billion and, according to the deal's rough outline, make Turner a vice chairman of the combined company with authority over his previous holdings and may be more. Time War ner would get Turner's globe-straddling cable prop erties--CNN and the Cartoon Network, plus three other channels-along with two movie companies, New Line Cinema and Castle Rock, and sports properties that include the potent Atlanta Braves...
...offer of about $35 a share for tbs stock, which had been trading at around $24, was a boon for Turner shareholders, but the potential benefit for the buyer was the more controversial point. "This is an absolutely natural fit for Time Warner,'' says PaineWebber analyst Christopher Dixon, who stresses the success of Turner's programming in foreign markets. Other analysts, including Edward Froelich of Pershing & Co., are less impressed, partly because the heavily indebted Time Warner will be financing the deal by issuing an additional 189 million shares of stock, there by increasing the outstanding shares 50% and threatening...
What, until recently, most 'zines had in common was that they were as non-commercial, communal and idealistic as the Internet itself. But all that changed with the advent last year of HotWired, the sassy online sister of Wired, and later of Pathfinder, Time Warner's mammoth collection of magazines-come-to-the-Net. Advertisers sensed new possibilities. And why not? The typical Internet user is a Madison Avenue parfait: mid-30s, hyper educated, mostly male, and with plenty of disposable income and free time...