Word: warners
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Dates: during 1990-1999
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...imagined that getting the Federal Trade Commission to bless the merger between Time Warner and the Turner Broadcasting System, two giants in the multibillion-dollar cable-TV business, would be a walk in the park. So it was hardly a surprise last week when leaks emanating from the FTC suggested that agency staff members favored blocking the $7.5 billion merger in its current form. Whatever the staff's inclination, the actual decision to approve or block the deal will be made by the five Federal Trade Commissioners. And they have yet to speak...
...Time Warner, the owner of Home Box Office, Cinemax and the nation's second largest cable system, and Turner, which controls CNN, TNT, the Cartoon Network and TBS, remain publicly confident that the deal will ultimately be approved. If the commission should require either the sale of certain Time Warner or Turner assets or other major changes in the deal, then the merger could be in trouble--in no small part because Tele-Communications Inc., the nation's largest cable operator and an important Turner shareholder, retains the right to veto any changes it deems not in its own interests...
...Time Warner and Turner, at first asked for a decision by June, but have now told the FTC not to rush, no doubt hoping further study will shift the commissioners' mood in the companies' favor...
Citizens of Eugene, Oregon, may soon be treated to the spectacle of two movie studios tripping over each other. This summer Disney and Warner plan to shoot competing versions of Pre, the tale of legendary Olympic runner STEVE PREFONTAINE, far left, who died in a 1975 car crash at age 24. Disney, which is spending about $7 million, had the edge initially, shooting crowd scenes last year. But script rewrites slowed the pace. Warner, with $25 million budgeted, has surged ahead, reserving the college track where Prefontaine ran. Filming could begin in June. Both sides had casting setbacks. Warner wanted...
...AITKEN, senior editor of TIME's Society section, doubled recently as editor of Mad Genius: The Odyssey, Pursuit, and Capture of the Unabomber Suspect (Warner Books; $5.99), an in-depth look at the terror-bomb saga prepared at lightning speed by TIME staff members and shipped to stores this week. Others raced to put out "quickie" books on the case; ours not only combined fresh reporting and thoughtful writing, but it also got there first. The 11-day effort left Aitken newly impressed by what first-rate team journalism can achieve. "I hesitate to say this, because I treasure...