January 20, 2000
CBS Television, reorganizing its distribution operations after last year's acquisition of leading syndicator King World Productions Inc., has named Roger King chairman and chief executive of the division. Retaining the name CBS Enterprises, the new umbrella division will include King World Productions as its domestic syndication arm and CBS Broadcast International as the overseas distribution unit. CBS' existing syndication arm, Eyemark Entertainment, will be folded into the new unit.
November 16, 1999 |
CBS Corp., one of the biggest television and radio broadcasters, said it has completed its purchase of King World Productions Inc., the largest TV syndication company, for about $3.21 billion in stock. After about two months of delays, King World said 99% of its shareholders who cast ballots approved the sale to CBS. King World shareholders will get 0.81 of a share of CBS common stock for each of their King World shares. That's about $42.98 a share, or 2.
October 31, 1999 |
At 4 on a morning last April, Roger King sat in his suite at Manhattan's opulent RIHGA Royal Hotel, eyeing papers that stood to make him vastly richer, though not necessarily happier. The previous three days had been a blur of last-minute negotiations, and King, known to log 100 sales phone calls before noon, was weary--maybe even weepy. Everyone knows King World, if only by the television programs that made it so successful: "Wheel of Fortune," "Jeopardy!" and "The Oprah Winfrey Show."
April 2, 1999 |
A year after hiring an investment banker to look for a buyer, King World Productions Inc., one of the last independent entertainment companies standing after a decade of consolidation, agreed Thursday to be acquired by CBS Corp. in a stock deal valued at $2.5 billion.
April 1, 1999 |
CBS Corp. and King World Productions Inc. are close to an agreement in principle under which the broadcasting company will buy the syndicator of such programs as "Wheel of Fortune," "Jeopardy!" and "The Oprah Winfrey Show" in an all-stock deal worth more than $2.8 billion. Sources close to the negotiations, which have been underway for several weeks, warned late Wednesday that a few issues remain unresolved and that the deal could still fall apart.
March 29, 1999 |
CBS Corp. and King World Productions Inc. have held merger talks in recent weeks to work out a marriage of the network and King World's television production and distribution, an industry source confirmed Sunday. "There have been talks," the source said. declining to comment on the status of negotiations. A CBS spokesman declined to comment, and King World spokeswomen were not available. King World, the Los Angeles-based distributor of the "Oprah Winfrey Show" and "Jeopardy!"