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By Andrew Leckey and Andrew Leckey,Tribune Media Services | June 12, 1991
Q. What are your thoughts on Paramount Communications? After so many changes taking place,is it time to look at this investment?A. This famous film company needs more low-budget blockbusters such as its surprise hit "Ghost" and fewer big-budget disappointments like its much-hyped "Days of Thunder."Take a wait-and-see attitude toward the stock of Paramount Communications (around $40, NYSE) because its entertainment division has suffered several major flops, cautioned Mark Manson, analyst with Donaldson, Lufkin & Jenrette.
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BUSINESS
March 2, 1994
Gitano files for bankruptcyGitano Group Inc. yesterday filed for Chapter 11 bankruptcy protection after agreeing to sell its assets to Fruit of the Loom Inc. for $100 million, $30 million less than the marketer of jeans and casual clothing owes its major creditors. Gitano put itself on the auction block last month after its main customer, Wal-Mart Stores Inc., refused to do business with the beleaguered company.Judge blocks hearing on ViacomViacom Inc. got what may be the final green light yesterday in its $10 billion quest to acquire Paramount Communications Inc., when a Delaware judge rejected a request by Blockbuster Entertainment Corp.
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FEATURES
By Los Angeles Times | May 1, 1991
HollywoodAFTER TWO weeks of intense negotiations, NBC Entertainment Chairman Brandon Tartikoff has reached an agreement to head Paramount Pictures in a deal set to be announced tomorrow.Tartikoff, who has been responsible for NBC's prime-time ratings supremacy over the past six years, confirmed to colleagues yesterday that he would be leaving the network after his contract expires in June. He was expected to sign his agreement with Paramount today.Details of the agreement were not publicly disclosed, though one source said: "I'm sure it's a fat deal financially."
BUSINESS
By Bloomberg Business News | February 17, 1994
NEW YORK -- The five-month battle for Paramount Communications Inc. may have been hell for bidders and the news-weary public. But it was heaven for the investment bankers and the lawyers, judging by the fees they pulled down.Investment bankers and investors estimate that Paramount Communications Inc., Viacom Inc. and QVC Network Inc. may end up paying as much as $150 million total for their army of advisers.Investment advisers worked around-the-clock for months as QVC and Viacom rehashed the terms of their bids and lobbied Paramount's board and investors.
BUSINESS
March 2, 1994
Gitano files for bankruptcyGitano Group Inc. yesterday filed for Chapter 11 bankruptcy protection after agreeing to sell its assets to Fruit of the Loom Inc. for $100 million, $30 million less than the marketer of jeans and casual clothing owes its major creditors. Gitano put itself on the auction block last month after its main customer, Wal-Mart Stores Inc., refused to do business with the beleaguered company.Judge blocks hearing on ViacomViacom Inc. got what may be the final green light yesterday in its $10 billion quest to acquire Paramount Communications Inc., when a Delaware judge rejected a request by Blockbuster Entertainment Corp.
BUSINESS
By Bloomberg Business News | February 17, 1994
NEW YORK -- The five-month battle for Paramount Communications Inc. may have been hell for bidders and the news-weary public. But it was heaven for the investment bankers and the lawyers, judging by the fees they pulled down.Investment bankers and investors estimate that Paramount Communications Inc., Viacom Inc. and QVC Network Inc. may end up paying as much as $150 million total for their army of advisers.Investment advisers worked around-the-clock for months as QVC and Viacom rehashed the terms of their bids and lobbied Paramount's board and investors.
BUSINESS
By New York Times News Service | September 11, 1993
In what would be the biggest media merger since Time married Warner four years ago, Paramount Communications and Viacom Inc. might announce a deal as early as this weekend, industry executives familiar with the negotiations said yesterday.While each company is already a power in its own right, their merger would create a more viable force on a field increasingly ruled by giants like Time Warner, Sony and Capital Cities/ABC.The deal, in which the executives said Viacom would acquire fTC Paramount for roughly $6.2 billion in stock and $1 billion in cash, would create one of the most powerful media companies in the country with a vast array of assets.
BUSINESS
January 15, 1994
Walter ousted as NITC presidentThe National Information Technology Center, a troubled economic development group funded by the Maryland Department of Economic and Employment Development, announced yesterday that Michael Walter is out as president of the Rockville-based organization.In what it described as a "joint press release," the center said Mr. Walter is leaving to "pursue other opportunities." Mr. Walter's ouster has been widely expected since October, when the board placed him on leave and dismissed all but one member of his staff because of its dissatisfaction with how the center was being managed.
NEWS
By Geraldine Fabrikant and Geraldine Fabrikant,New York Times News Service | October 13, 1993
In one of the largest corporate mergers in history, Bell Atlantic has agreed to buy both Tele-Communications Inc., the nation's largest cable operator, and its cable programming company, Liberty Media Corp., in a stock deal valued at more than $23 billion, three executives close to the negotiations said last night.The corporate marriage would be one of the first to take advantage of a regulatory environment that has become more receptive to telephone companies branching out into new businesses as a way to bring about a nationwide "superhighway" data communications network.
BUSINESS
By New York Times News Service | October 12, 1993
NEW YORK -- It was a $2.2 billion gap that refused to go away, and in the end, even the board of Paramount Communications Inc. could no longer ignore it.After a remarkably brief 20-minute meeting, Paramount's board said yesterday that it would begin exploratory discussions with QVC Network Inc., the home shopping company that has presented it with an unwelcome $9.5 billion buyout offer.That offer easily beats a competing friendly merger agreement with Viacom Inc., currently valued at $7.3 billion.
BUSINESS
January 15, 1994
Walter ousted as NITC presidentThe National Information Technology Center, a troubled economic development group funded by the Maryland Department of Economic and Employment Development, announced yesterday that Michael Walter is out as president of the Rockville-based organization.In what it described as a "joint press release," the center said Mr. Walter is leaving to "pursue other opportunities." Mr. Walter's ouster has been widely expected since October, when the board placed him on leave and dismissed all but one member of his staff because of its dissatisfaction with how the center was being managed.
NEWS
By Geraldine Fabrikant and Geraldine Fabrikant,New York Times News Service | October 13, 1993
In one of the largest corporate mergers in history, Bell Atlantic has agreed to buy both Tele-Communications Inc., the nation's largest cable operator, and its cable programming company, Liberty Media Corp., in a stock deal valued at more than $23 billion, three executives close to the negotiations said last night.The corporate marriage would be one of the first to take advantage of a regulatory environment that has become more receptive to telephone companies branching out into new businesses as a way to bring about a nationwide "superhighway" data communications network.
BUSINESS
By New York Times News Service | October 12, 1993
NEW YORK -- It was a $2.2 billion gap that refused to go away, and in the end, even the board of Paramount Communications Inc. could no longer ignore it.After a remarkably brief 20-minute meeting, Paramount's board said yesterday that it would begin exploratory discussions with QVC Network Inc., the home shopping company that has presented it with an unwelcome $9.5 billion buyout offer.That offer easily beats a competing friendly merger agreement with Viacom Inc., currently valued at $7.3 billion.
BUSINESS
By New York Times News Service | September 11, 1993
In what would be the biggest media merger since Time married Warner four years ago, Paramount Communications and Viacom Inc. might announce a deal as early as this weekend, industry executives familiar with the negotiations said yesterday.While each company is already a power in its own right, their merger would create a more viable force on a field increasingly ruled by giants like Time Warner, Sony and Capital Cities/ABC.The deal, in which the executives said Viacom would acquire fTC Paramount for roughly $6.2 billion in stock and $1 billion in cash, would create one of the most powerful media companies in the country with a vast array of assets.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | June 12, 1991
Q. What are your thoughts on Paramount Communications? After so many changes taking place,is it time to look at this investment?A. This famous film company needs more low-budget blockbusters such as its surprise hit "Ghost" and fewer big-budget disappointments like its much-hyped "Days of Thunder."Take a wait-and-see attitude toward the stock of Paramount Communications (around $40, NYSE) because its entertainment division has suffered several major flops, cautioned Mark Manson, analyst with Donaldson, Lufkin & Jenrette.
SPORTS
By Clifton Brown and Clifton Brown,New York Times News Service | June 1, 1991
NEW YORK -- Lured by the challenge and unable to resist the opportunity, Pat Riley has returned to coaching, confident he can return the New York Knicks to glory.Ending weeks of speculation and negotiations, Riley, 46, was introduced as the Knicks' head coach at a news conference at Madison Square Garden yesterday.Having coached the Los Angeles Lakers to four NBA championships during the 1980s, Riley has credentials and box-office charisma unmatched by anyone else the Knicks could have hired.
SPORTS
By Clifton Brown and Clifton Brown,New York Times News Service | June 1, 1991
NEW YORK -- Lured by the challenge and unable to resist the opportunity, Pat Riley has returned to coaching, confident he can return the New York Knicks to glory.Ending weeks of speculation and negotiations, Riley, 46, was introduced as the Knicks' head coach at a news conference at Madison Square Garden yesterday.Having coached the Los Angeles Lakers to four NBA championships during the 1980s, Riley has credentials and box-office charisma unmatched by anyone else the Knicks could have hired.
BUSINESS
January 28, 1994
QVC, BellSouth discuss bidRepresentatives of QVC Network Inc. and BellSouth Corp. met the last two days to discuss the possibility of QVC revising its bid for Paramount Communications Inc., sources said yesterday.Final bids in the five-month fight between QVC and Viacom Inc. are due by Tuesday.BellSouth is the largest investor in QVC's bid for Paramount, having agreed to put up $1.5 billion.Viacom is offering $105 a share in cash for 50.1 percent of the company, compared with QVC's bid of $92 a share in cash for the same percentage.
FEATURES
By Los Angeles Times | May 1, 1991
HollywoodAFTER TWO weeks of intense negotiations, NBC Entertainment Chairman Brandon Tartikoff has reached an agreement to head Paramount Pictures in a deal set to be announced tomorrow.Tartikoff, who has been responsible for NBC's prime-time ratings supremacy over the past six years, confirmed to colleagues yesterday that he would be leaving the network after his contract expires in June. He was expected to sign his agreement with Paramount today.Details of the agreement were not publicly disclosed, though one source said: "I'm sure it's a fat deal financially."
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