Word: qvc
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...merger, the new offer is enough to prolong the contentious five-month battle for control of Paramount and cast renewed uncertainty over its outcome. With his latest parry -- even if it turns out to be as ineffectual as Diller thinks it is -- Redstone has for the moment denied QVC's chairman the prize he so eagerly desires. Diller, Redstone and Paramount CEO Martin Davis have been locked in combat since September, when Viacom agreed to buy the movie studio for $8.2 billion in a friendly deal. Soon after that agreement, Diller launched a $9.5 billion hostile takeover. In the bidding...
...table at all. One possible answer is that Redstone and his advisers believe that shareholders will not only appreciate the larger cash component of their offering but will also be swayed by future profit possibilities. Some analysts maintain that Redstone's combination will indeed offer far more synergy than QVC and Paramount. Says Chris Dixon, an analyst at Paine Webber: "It's hard to imagine what business opportunities exist between QVC and Paramount that can match Viacom, Blockbuster and Paramount...
...sleep over this new bid," says analyst Logsdon. If Diller does not alter his own bid (most observers believe he will not) and Viacom fails to sweeten its package by early next week, then it remains for Paramount's shareholders to vote with their shares of stock. Though QVC and its advisers radiated confidence at the end of last week, they were not above taking out a little insurance, hinting that they may challenge Viacom's move in court. "The new Viacom offer violates the bidding procedures agreed to among QVC, Paramount and Viacom and does not operate to trigger...
...struggle between Sumner Redstone's Viacom and Barry Diller's QVC to acquire Paramount. The winner in this fight will almost certainly be a loser because the winner will overpay. Overpaying is a major symptom of show-business fever. Whatever the wishful rationalization of the day -- magazines and cable TV need the synergy of movies and records (Time and Warner, 1989); hardware needs software (Sony and Matsushita buying Columbia Pictures and MCA/Universal, 1990-91); the information superhighway needs content (everyone, 1993-94) -- it is almost axiomatic that when people come down with show-business fever, they pay a premium...
Hours before a deadline to make another bid for Paramount Communications, Viacom, Paramount's preferred suitor, announced an agreement to merge with video-rental giant Blockbuster Entertainment. This combination will provide Viacom with the financing needed to counter QVC Network's hostile bid for Paramount.Viacom's new nearly $10 billion offer, though valued at slightly less than QVC's, raises the cash portion of the Viacom bid to $6.4 billion, about $700 million more than the cash in QVC's offer -- which QVC is free to increase...