Word: warners
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Dates: during 1990-1999
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...arrangement was supposed to be cut and dried, even ironclad. Not only did it designate Nicholas J. Nicholas Jr. the sole heir to Steve Ross as head of Time Warner Inc. The 1989 merger agreement that created the world's largest media company also spelled out the date of his accession -- five years in advance. As of 1994, Ross, while remaining chairman, would step aside as co- chief executive officer, and president Nicholas would become the sole...
...opposed Nicholas felt that they needed to ensure that if Ross died, Nicholas would not succeed him. But a number of other insiders say the move would have been made months earlier had it not been for Ross's illness. One crystallizing factor, apparently, was the death of Borg-Warner chairman James F. Bere, a longtime member of the Time Inc. board who remained a director after the merger. With the so-called Time faction reduced by one, this theory goes, Ross and Levin knew that they could count on support from a majority of the board...
Some accounts named Levin as the chief organizer, working with the support of J. Richard Munro, a former Time Inc. CEO who retired in 1990, shortly after the merger with Warner Communications. But it was clear that chairman Ross, 64, though weakened by his cancer therapy, had nonetheless taken a major hand...
Predictably, there was some immediate speculation from outsiders that the Nicholas ouster marked a final victory for the supposedly freewheeling Hollywood Warner Communications crowd over the reputedly more restrained, ! button-down old Time Inc. clique. "You have this group of Warner rowdies storming the gates of Rome," says a management consultant. "Just like the Visigoths made quick work of the Romans, the Warner people are quickly dispatching the remnants of the old Time...
Cable operators see telecommunications as just another service offered on their new networks. These high-capacity systems could provide 300 or more channels in the future. In December, Time Warner (the parent company of TIME magazine) launched the nation's first 150-channel cable system. Located in the New York City borough of Queens, the 1,800-mile fiber network includes 50 channels of movies and is capable of providing interactive television. Time Warner is also planning to use extra channels on the Queens system to test a new portable phone service that could greatly expand the use of mobile...