Create a new account

It's simple, and free.

Bidders for Takeover of QVC Network

In recent years, takeovers and acquisitions have consolidated numerous small companies into larger and larger conglomerates, and Hollywood has become the target of such consolidation moves on more than one occasion. Paramount Pictures is the latest company to become the company of choice for several bidders. the two primary bidders have been the QVC Network headed by Barry Diller, who was once studio chief for Paramount before moving to 20th Century-Fox and then Fox Broadcasting, and Viacom, headed by Sumner Redstone. There are other companies looking at Paramount as an acquisition as well, notably Ted Turner's Turner Broadcasting. Acquisition of Paramount by any of these bidders would signal a change in the competitive environment.

QVC Network is a company that has been noted for its direct sales over television, the so-called shopping channel approach, and more recently under Barry Diller the company has been delving into the future of interactive television on several levels. Brian Roberts is the Chairman of the network. He is also president of Philadelphia-based Comcast Corp., the nation's fourth-largest operator of cable-TV systems, with more than two million subscribers. Comcast and Liberty Media along with Barry Diller joined together to take control of QVC. QVC was created by Roberts and his father in 1985 with seed money for start-up, and the two persuaded other cable operators to carry the channel in return for a stake in it. The Roberts first met Diller in 1991 when he was chairman of News Corp.'s Fox, Inc. Two months alter, Diller resigned from Fox, and Brian Roberts contacted him about QVC. As they talked, they did so in terms of making QVC a major media company, including purchase of a studio. At the time, MGM was a possibility, but now Paramount is the target.

Liberty Media, part-owner of QVC, has John Malone as chief executive. He has often been referred to as the "King of Cable." Malone actually...

Page 1 of 6 Next >

More on Bidders for Takeover of QVC Network...

Loading...
APA     MLA     Chicago
Bidders for Takeover of QVC Network. (1969, December 31). In LotsofEssays.com. Retrieved 06:33, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1689874.html