Word: cbs
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Dates: during 1990-1999
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...constantly asked what he was going to do next. The flinty mogul, whose QVC cable network had lost an expensive bid to buy Paramount Communications, would say only, "I'm onto something." Late in the evening, he stood at the door chatting with Don Hewitt, executive producer of CBS's 60 Minutes, and Hewitt's wife, TV newswoman Marilyn Berger. "Barry," Berger said nonchalantly, "you really should come around the show more often." Diller, twinkling and almost winking, replied, "Oh, I'll be around...
Next, it turns out, was CBS. Last week Diller and CBS chairman Laurence Tisch announced that the Eye network would acquire QVC. CBS shareholders would own about 53% of the company, QVC shareholders the rest. If the deal goes through, Tisch will be chairman of the merged companies, and Diller will be president, CEO and chairman of the executive committee. QVC will designate five of the 12 members of the board of directors, including Diller. Tisch will own about 10% of the combined company (through his family-held company, Loews Corp., he owns 20% of the current CBS...
Wall Street wasn't sure who would be boss, but it responded emphatically. The day the merger was announced, the stock of both CBS and QVC rocketed 19%. It pumped up a QVC stock value that had been cut sharply after the Paramount sortie. And it brought Tisch's company almost back to its May level, before CBS got a black eye by losing eight of its affiliate stations to Fox. CBS had also suffered wounds from an earlier affiliate raid by Rupert Murdoch, owner of the News Corp. (which includes the Fox network), and Revlon magnate Ronald Perelman. "CBS...
...CBS chairman Laurence Tisch and QVC head Barry Diller said "the Tiffany network" would almost certainly go ahead in its surprise merger with the home-shopping giant. The result, to be finalized July 13 barring unforeseen snags, will be an altered TV landscape in which a top-rated network has substantial interest in cable. Investors are buying in: even before the official announcement, CBS stock shot up $48, to $311, and QVC's rose...
...only possible problem with soccer watching is the paucity of goals scored. I can remember hearing Dan Rather moan on CBS Radio the day after the New York Giants and San Francisco 49ers played a 7-3 game on a Monday night. Americans watching soccer will now identify that game as a fantastic defensive battle. Why not, when 1-0 baseball games are hailed as 'monumental pitchers' duels' and such? Why not, when New York Knick Anthony Mason's sole intelligible comment during the NBA Finals was, "I luv [sic] defense"? Television watchers will begin to enjoy the phenomenal passing...