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 Gwyneth Paltrow and Chris Martin file for divorce after 10 years of marriage
- 2 Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
- 3 Katie Hopkins and The Sun editor David Dinsmore reported to police for incitement to racial hatred following migrant boat column
- 4 Bookies now say Ed Miliband is more likely to be prime minister than David Cameron
- 5 Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
Gwyneth Paltrow and Chris Martin file for divorce after 10 years of marriage
Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
Katie Hopkins and The Sun editor David Dinsmore reported to police for incitement to racial hatred following migrant boat column
'Jihadi John': Isis executioner Mohammed Emwazi wanted to wage jihad in Somalia until his friends were betrayed and killed by al-Shabaab
Parma, Missouri: 80 per cent of town's police quit after first black mayor is elected
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
Katie Hopkins on LBC: Listen to caller taking The Sun columnist to task over migrant comments
iJobs Money & Business
£12000 - £15000 per annum: Recruitment Genius: An expanding Insurance Brokerag...
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£30 - 35k (DOE): Guru Careers: We are seeking a Pricing Analyst with experienc...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...