April 12, 1994 |
With its proposed merger with Blockbuster Entertainment Corp. on increasingly shaky ground, speculation is growing that Viacom Inc. will soon put a chunk of assets up for sale to trim the debt from its $10-billion acquisition of Paramount Communications Inc. Meanwhile, regional telephone giant and Viacom partner Nynex Corp.
August 24, 1994 |
Directors of Blockbuster Entertainment Corp. voted unanimously Tuesday to recommend a once-doubtful merger with Viacom Inc., setting a Sept. 29 date for a shareholders meeting to vote on the deal. The outcome could still be a cliffhanger, however, if Viacom's stock price drops as it did in the months following the Jan. 7 merger agreement struck by the two companies.
January 11, 1994 |
QVC Network Chairman Barry Diller said Monday that he does not plan to increase his bid for Paramount Communications Inc., despite Viacom Inc.'s move last week to boost the cash portion of its offer for the entertainment company. QVC is still in the lead, with a cash-and-stock offer valued at $500 million more than Viacom's bid at the close of trading Monday. But Wall Street traders said they expect Viacom to improve the non-cash portion of its bid before Jan.
January 8, 1994 |
In a cliffhanger worthy of a Hollywood box office hit, Viacom Inc. and Blockbuster Entertainment Corp. agreed to merge Friday as part of an eleventh-hour gambit to derail a marriage between QVC Network and Paramount Communications Inc. As part of the proposed merger--the result of marathon negotiations over the last three days--Viacom-Blockbuster said it will sweeten its bid to $105 a share, or a total of $6.5 billion, for 50.1% of Paramount's stock.
May 15, 2009 |
As if crushing debt, the recession, Netflix and Redbox weren't enough, Blockbuster Inc. has a new foe: the booming box office. That's according to Jim Keyes, chief executive of the struggling but still massive DVD rental chain, who on Thursday blamed much of his company's weak performance last quarter on the growing number of people watching movies in theaters and not their living rooms.
July 22, 1990 |
When Blockbuster Video held a franchisees convention in Los Angeles last year, Hollywood rolled out a star-quality welcome. There was a catered barbecue and presentation on the old Burbank Studios lot and a VIP tour of Universal Studios. Conventioneers with spouses and children in tow were even treated to a private screening of the sentimental movie "Dad." Such are the perks for a company that dominates video retailing the way "Batman" dominated the box office. Blockbuster Entertainment Corp.
December 11, 1992 |
Fifty million dollars can help put a club like the Tampa Bay Lightning on the ice in its first year of existence and make it an exciting, skilled team that even led the Norris Division for several days this season. Or, $50 million can get you the hapless Ottawa Senators, winners of three games.
January 31, 1993 |
When the NFL expanded to Tampa Bay in 1976, there was no talk of the Buccaneers helping the league secure a better network television contract. When Major League Baseball expanded to Seattle in 1977, no one marveled at how the Mariners would strengthen baseball ownership and improve the sport's credibility. And when the NBA expanded to Minnesota in 1989, league marketing directors didn't look for the Timberwolves to set an example they all could follow.
June 6, 1993 |
Former 20th Century Fox chief Joe Roth a few weeks back was praising Blockbuster Entertainment Corp.'s drive to diversify beyond the video retailing business. "They have to," Roth explained in a speech to Los Angeles entertainment lawyers. "Because most of those video stores are going to be pizza places soon." Roth's suggestion that Blockbuster soon would be better off making its dough in pizzas than videos was more than enough to give executives here heartburn when they read it.
July 1, 1993 |
Do you know the way to Devore? Or more importantly, will you drive to Devore, 60 miles from downtown L.A., off Interstate 15 about 10 miles north of Interstate 10 in San Bernardino County? Blockbuster Entertainment, which will open the Glen Helen Blockbuster Pavilion there this weekend, thinks so, and is betting heavily on it, starting with the $15 million it spent just to build the state-of-the-art, open-air concert facility.