Cable television broadcasting industry
Comcast Corporation's bid to acquire QVC Inc. for $2.2 billion has hit a roadblock as Tele-Communications Inc. (TCI), the largest stakeholder, has expressed opposition to the deal. TCI's CEO, John Malone, who is also the most powerful figure in the US cable industry, stated that
Cable television broadcasting industry
In a surprising move, CBS Inc. announced a buyback of up to 3.5 million shares, or 22 percent of outstanding shares, at $325 per share, a significant premium over the current market price. This comes a day after the company abandoned its merger with QVC Inc. due to an
Cable television broadcasting industry
Comcast's offer to acquire QVC for $2.1 billion upstaged a planned merger with CBS, casting doubts on the future of the CBS-QVC deal. The bid, backed by Comcast's 15.5% stake in QVC, has stunned the entertainment industry, with CBS chairman Laurence Tisch stating that
Cable television broadcasting industry
The Clinton administration is pushing for Haiti's military leaders to step down, with U.S. Secretary of State Warren Christopher stating that military intervention is an option on the table. President Clinton's special adviser on Haiti, William Gray, emphasized that an invasion is not imminent, but
Cable television broadcasting industry
In a major move, the BBC is determined to expand its global reach by launching a 24-hour television news service in Britain. The corporation's director general, John Birt, has stated that their priority is to win over their staff while continuing the drive for efficiency, amidst a backdrop
Cable television broadcasting industry
Viacom's Showtime Networks Inc. plans to invest $50 million to produce 15 to 20 movies in Canada over the next 12 months. The project is expected to create 100 jobs per film, leading to a total of 2,000 jobs, and provide a $105-million economic boost to Toronto&
Cable television broadcasting industry
Telecommunications law is on the cusp of its most significant overhaul since the breakup of the Bell telephone system a decade ago. The House of Representatives is poised to pass a bill that would fundamentally change the rules for electronic communications, affecting virtually every aspect of an industry worth over
Cable television broadcasting industry
Viacom Inc., reeling from its massive debt of nearly $10 billion, is considering selling its joint venture 350-screen Cineamerica movie theater chain, reportedly valued over $500 million. Rumors emerged that Turner Broadcasting System Inc. is engaged in buyout talks for the chain, which operates primarily in California, Colorado, Arizona, and
Cable television broadcasting industry
Top business leaders testified before the Senate Finance Committee on Monday, praising a government program that provides massive tax breaks to selected developing countries. However, they also expressed concerns about the program's effectiveness and called for Congress to step up enforcement if it renews the 20-year-old Generalized System
Cable television broadcasting industry
Japanese banks have agreed to lend Viacom $2 billion to finance its acquisition of Paramount Communications Inc, a deal worth $6.8 billion. Nine major banks, including Bank of Tokyo, Mitsubishi, and Sanwa, will provide the loan, covering approximately one-third of the total purchase price. The loan was made possible
Cable television broadcasting industry
Japanese banks have agreed to extend a loan package worth $2 billion to Viacom Inc. to finance its takeover of Paramount Communications Inc. in the United States. The loan is part of a $6.8 billion lending package from 27 banks and is seen as a significant investment in the
Cable television broadcasting industry
Civil libertarians and consumer advocates promote the idea of the information superhighway as a platform for "electronic democracy," with Vice President Al Gore and powerful members of Congress sympathetic to this egalitarian vision. The Electronic Frontier Foundation, Computer Professionals for Social Responsibility, the Center for Media Education, and
