Television broadcasting industry
Pittsburgh-based Westinghouse Electric Corp., the new owner of CBS Inc., has introduced a shareholder rights plan, commonly referred to as a "poison pill," to prevent any potential takeover of the company. The plan aims to safeguard the interests of shareholders by issuing a dividend distribution of one right
Television broadcasting industry
Eric W. Ober, the president of CBS News for the past five years, is leaving the position on January 12, according to a memo distributed to staff. Ober's departure comes after a period of cost-cutting measures within the network, which has impacted the news division. The replacement for
Television broadcasting industry
The U.S. President Bill Clinton expressed his strong concern that the House of Representatives' telecommunications reform bill will promote monopolies and concentration of media power among fewer people, citing the recent mergers and acquisitions in the industry as evidence. A day after Walt Disney's $19-billion deal
Television broadcasting industry
Westinghouse Electric Corp. has announced a $5.4 billion agreement to purchase CBS Inc., seeking to move into the top tier of media giants. The deal, announced on August 1, is the second buyout of a television network in two days following Walt Disney Co.'s stunning agreement to
Insurance industry
General Electric's finance subsidiary, GE Capital Corporation, has increased its cash bid for Kemper Corporation to $60 a share, or about $1.99 billion, from its previous offer of $55 a share. This significant increase has put Kemper on the auction block, but analysts suggest that it is
Insurance industry
Kemper Corporation, a financial services giant based in Long Grove, Illinois, has formally put itself up for sale, marking a significant shift in its stance on a potential takeover bid from the General Electric Company. The decision follows a $190 million increase in G.E.'s offer, which now
