diversify.
The company courted several entertainment companies, including the then-stagnant Walt Disney Company, but seriously considered McGraw-Hill Publishing. Robinson met with Harold McGraw, chairman of the target in 1979, but underestimated McGraw's tenacity. The chairman publicly denounced the integrity of American Express in going after the publisher since one of the senior American Express executives had served on McGraw-Hill's board of directors. Secondly, McGraw argued that since American Express functioned as a bank in that it extended credit, it should be subject to the same regulations as banks. American Express dropped its interest in the company after gaining poor publicity, and the former McGraw-Hill director resigned from American Express within months.
In December 1979, Robinson was successful in acquiring 50 percent of Warner Amex Cable. The company intended to sell financial products through cable television, but also was responsible for MTV Networks and Showtime/The Movie Channel (TMC). The cable operation was be
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