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Entertainment Industry United States

BUSINESS
September 2, 1995 | SALLIE HOFMEISTER, TIMES STAFF WRITER
As lawyers and investment bankers representing Time Warner Inc. and Turner Broadcasting System Inc. continued to negotiate a proposed $8.5-billion merger, some Wall Street analysts began questioning whether the entertainment giant's offer might be overpriced. No formal announcement of a merger is expected before next week, according to people close to the talks. Time Warner is proposing to exchange 0.75 shares of its stock for each share of Turner Broadcasting and to make Turner a subsidiary.
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BUSINESS
August 31, 1995
If Time Warner Inc. and Turner Broadcasting System Inc. complete their $8.5-billion merger, it will top off the entertainment industry's summer of Hollywood-style upheaval and melodrama. A chronology of the past few months' more memorable events: * April 9: In a deal spearheaded by Chief Executive Edgar Bronfman Jr., Seagram Co. pays Matsushita Electric Industrial Corp. $5.7 billion for 80% of entertainment conglomerate MCA Inc.
BUSINESS
August 31, 1995 | KAREN KAPLAN
Federal law has long shaped the landscape of the entertainment industry. Antitrust regulators cut ties between movie studios and theater chains in the 1940s and forced MCA to dump its talent agency business in 1962 because it was producing television shows. In 1970, the Federal Communications Commission forbade networks to have a financial interest in the programs they aired or from profiting from reruns in syndication.
BUSINESS
August 31, 1995 | MARTHA GROVES, TIMES STAFF WRITER
These are supposed to be the somnolent dog days of summer, but tell that to the busy Hollywood and Wall Street deal makers hoping to put together yet another blockbuster union, this time between Time Warner Inc. and Turner Broadcasting System Inc. "This is a wild-ass August," said Bishop Cheen, a senior analyst with Paul Kagan Associates, a media research firm in Carmel. "And there's probably some more to come." What's behind this summer's feeding frenzy, triggered by Walt Disney Co.'
BUSINESS
August 31, 1995 | JUBE SHIVER Jr., TIMES STAFF WRITER
A Time Warner Inc. merger with Turner Broadcasting System Inc. would combine a number of businesses that now compete with one another and further concentrate U.S. media ownership, but antitrust experts and federal officials said Wednesday that such a marriage would probably pass legal muster. "It is unlikely that the subcommittee would take a look at this deal," said a spokesman for Sen. Strom Thurmond (R-S.C.), chairman of the Judiciary Subcommittee on Antitrust, Monopolies and Business Rights.
BUSINESS
August 31, 1995 | SALLIE HOFMEISTER, TIMES STAFF WRITER
While Wall Street looked for signs of a possible bidding war to develop for Turner Broadcasting System Inc., Turner directors held a special meeting in New York on Wednesday to discuss the merger proposed by media giant Time Warner Inc., valued at an estimated $8.5 billion. "Before it's all over, we're going to hear from General Electric in this," said Jeffrey Logsdon, an analyst at the Seidler Cos.
BUSINESS
August 31, 1995 | CLAUDIA ELLER, TIMES STAFF WRITER
In the rapidly changing landscape of Hollywood, where the mantra of the day is bigger is better, it would seem that the importance and role of the good old-fashioned movie studio somehow gets lost--maybe even diminished--in the towering world of media mega-mergers. "All of a sudden our jobs seem unimportant," said one studio head after hearing the news that yet another "world's largest" media giant was in the making with Time Warner Inc.'
BUSINESS
August 20, 1995 | JAMES FLANIGAN
There are great trends running in the world entertainment and media industries and fascinating lessons for investors and everybody interested in business. But they are not the lessons suggested by the hype in Hollywood and Wall Street right now. The latest buzz is that Ted Turner will meet with directors of Turner Broadcasting System on Monday and discuss a $6-billion plus bid for CBS Inc., which only three weeks ago agreed to sell out to Westinghouse for $5.4 billion.
BUSINESS
August 2, 1995 | CLAUDIA ELLER and CHUCK PHILIPS, TIMES STAFF WRITERS
The landscape of the entertainment industry is changing rapidly. Westinghouse's acquisition of CBS on Tuesday and Walt Disney Co.'s purchase of Capital Cities/ABC Inc. a day earlier demonstrates the continuing consolidation of the entertainment world as fewer and fewer conglomerates fold more and more businesses under their corporate umbrellas.
BUSINESS
August 2, 1995 | AMY HARMON LESLIE HELM and JULIE PITTA, TIMES STAFF WRITERS
Remember interactive television? It was the version of our future so vivid that it drove billion-dollar deals, spawned dozens of entrepreneurial start-ups and created a collective memory of its impact, despite having never existed. That was last year. But now, as Disney absorbs ABC and Westinghouse bids for CBS in deals that promise to redefine consumer culture, ITV, as it came to be known, is nowhere in sight.
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