May 16, 1996 |
Biondi Could Get as Much as $15.5 Million From Viacom: Frank Biondi Jr., who was fired as chief executive of Viacom in January and just hired as CEO of rival MCA Inc., will be paid as part of his employment agreement calling for $2.97 million in salary and as much as $10.7 million in bonuses. He will also get options for 1 million Class B Viacom shares and $1.8 million in deferred compensation. Details were filed with the Securities and Exchange Commission.
May 15, 1996
Entertainment giant MCA Inc. said it has increased its investment in Interplay Productions, an Irvine-based manufacturer and distributor of computer games. Though both companies declined to offer details on the investment, a spokesman for Interplay said MCA's stake remains below 50%. In 1994, MCA purchased a minority interest in Interplay reportedly between 20% and 30%, with an option to acquire nearly 50% of the company.
April 30, 1996 |
Cable television partners Viacom Inc. and MCA Inc. went to war Monday over a new channel that shows reruns of "Hogan's Heroes," "The Sonny & Cher Comedy Hour" and "Green Acres." MCA fired the first shot, filing suit against Viacom in Delaware Chancery Court over Nick at Nite's TV Land, a 24-hour channel of classic reruns that Viacom launched Monday night with a flick of the switch at a star-studded party on the Paramount Pictures lot.
April 24, 1996 |
New MCA Chief Executive Frank J. Biondi Jr. said the entertainment company will explore cable and network opportunities but that a plunge into TV distribution isn't inevitable. "I'm not coming in with a point of view that you need a franchise in cable networking or a franchise in broadcasting to be complete or to be competitive. Those are issues, but they aren't the only way to look at those issues," Biondi said in an interview. Some analysts have suggested that MCA Inc.
April 23, 1996 |
MCA Inc. is expected to name former Viacom Inc. Chief Executive Frank J. Biondi Jr. today as its chairman and chief executive, filling the last major gap in the entertainment company's management ranks following its acquisition last year by spirits giant Seagram Co., industry sources said. Biondi, 51, will fill the position left vacant by Hollywood legend Lew Wasserman, who became chairman emeritus after Seagram paid $5.7 billion for 80% of MCA in June.
CALIFORNIA | LOCAL
April 3, 1996 |
Entertainment giant MCA Inc. has created a local buzz with its previews of a $3-billion proposal to build a 24-hour resort in the Cahuenga Pass--industry analysts call it cutting-edge while some neighbors are giving it a thumbs down. "People are talking about it," said Tony Lucente, president of the Studio City Residents Assn. "They are talking about traffic and noise. I think they are afraid of what this might mean for life in our community."
March 29, 1996 |
Addressing an audience of often skeptical neighbors, MCA Inc. has embarked on a public relations campaign for its $3-billion proposal to transform the firm's Cahuenga Pass property into a 24-hour resort and entertainment complex.
February 28, 1996 |
In a case involving former MCA Inc. shareholders, the Supreme Court gave a major victory Tuesday to businesses trying to resolve class-action lawsuits, ruling that federal judges must honor settlements reached in state courts. Legal experts said that the 7-2 decision will make it easier to settle lawsuits and will forestall companies' having to fight multiple actions in federal and state courts.
February 22, 1996 |
MCA Inc. on Wednesday formally completed its $200-million partnership pact with Interscope Records and quickly illustrated how it would try to avoid the national controversy over the Westwood-based label's involvement in "gangsta" rap. Interscope kicked off its first day at MCA by capturing the No. 1 spot on the nation's pop chart with rapper Tupac Shakur's new expletive-laced "All Eyez on Me" album.