Paramount backs new Viacom offer
Tuesday 09 November 1993
Viacom, whose friendly offer for Paramount lost ground all last week, finally increased its bid on Saturday, adding dollars 5 in cash to its previous package, whose value had slipped below dollars 79 a share. At yesterday's share prices, Viacom's bid is worth about dollars 10.4bn
The moves sent its rival, QVC - already off balance because of new questions from US regulators - scrambling to find a way to increase its own bid. In an attempt both to raise more cash and allay anti-trust concerns, QVC's chairman Barry Diller has broached the possibility of replacing one of its backers, Liberty Media, with a new partner, BellSouth, a rich regional telephone company with no current interests in the cable or entertainment industry.
QVC, a cable television shopping network, is 22 per cent owned by Liberty Media, which is in turn owned by Tele- Communications Inc, America's largest cable systems operator. Some regulators have voiced concern about vertical integration of the US cable industry should QVC take control of Paramount.
- 1 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 2 Students offered grants if they tweet pro-Israeli propaganda
- 4 Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
MH17 crash: Investigators discover more human remains and 'huge section of plane'
Susan Sarandon on David Bowie romance: 'He's worth idolising'
Students offered grants if they tweet pro-Israeli propaganda
A day in the life of Vladimir Putin: The dictator in his labyrinth
Exclusive: Cameron’s Big Society in tatters as charity watchdog launches investigation into claims of Government funding misuse
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
John Barrowman praised for Commonwealth Games opening ceremony gay kiss
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...