Word: capped
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Unlike Disney's lightning-quick buy of Cap Cities, the Time Warner-Turner deal is a work in progress. At week's end, at Time Warner's Manhattan headquarters, negotiations proceeded urgently. But the very announcement set off Wall Street speculation that other moguls, such as General Electric chairman Jack Welch and News Corp. chief Rupert Murdoch, would enter the bidding for Turner. But Murdoch denied any interest; and GE indicated that while it would not try to break up this deal, it remained interested in Turner if the Time Warner acquisition failed. Says Harold Vogel, a media analyst...
...angled desperately to buy a TV network, first nbc in January and cbs until only a few weeks ago. Levin, for his part, had been talking of unloading the company's long-held 19% stake in tbs in order to pay down debt. The game changed when Disney and Cap Cities eloped, raising the ardor and insecurity of moguls everywhere...
...engages people in conversation, talking to them as one baseball fan would to another. ("Man, did you see the stuff Mussina had tonight?" says Ripken, the fan.) If he sees a child with a rival's hat on, he'll kid him or her and maybe even exchange the cap...
...proposals that actually are under discussion, some are variations on what might be called "the King Canute solution": just order the tide of Medicare spending to stop. The King Canute solution comes in large and small sizes. The large version is a cap on total Medicare spending. But a cap is not a plan; it is merely an aspiration. It puts off the inevitable decisions about how exactly the spending tide is to be stopped, and at whose expense...
Huzzahs rang out from Ovitz's new colleagues . Says Robert Iger, president of Cap Cities/abc: "My initial instinct, and the instinct that remains, is that I'm thrilled with it. Michael Ovitz knows our business, so there's a familiarity that will lend support." Harvey Weinstein, co-chairman of the Disney subsidiary Miramax Films, calls Eisner and Ovitz "the greatest one-two combination since Sandy Koufax and Don Drysdale--only they're both Koufax. Mike Ovitz is the No. 1 talent magnet. Talent loves him. If you say, 'Hey, Mike, I'm having trouble casting this movie,' in about...