E.W. Scripps ponders selling cable systems; other strategic options weighed; analysts put price at over $1 billion
Article Abstract:
US cable operator E.W. Scripps Co is considering selling off all or part of its cable systems, a move that could bring in over $1 billion. Scripps is also considering a number of other strategic options, such as joint ventures and restructuring efforts. Scripps' actions are indicative of the pressures facing mid-sized cable operators as the cable industry consolidates into a few giant players. In the past year, over $20 billion in cable properties have changed hands, including significant acquisitions by Time Warner Inc and Tele-Communications Inc. Analysts estimate that Scripps' cable properties are worth approximately $1.1 billion and would be especially attractive to cable operators looking to boost their subscriber base. Scripps has not held any formal talks with potential buyers, but the company has hired Merrill Lynch & Co to evaluate alternative strategies.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1995
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Diller bets on home shopping's future
Article Abstract:
Barry Diller, who built up the Fox television network, will invest $25 million in home-shopping channel QVC Network Inc. Diller joins with John Malone, who controls Tele-Communications Inc (TCI) and its Liberty Media Corp spinoff. TCI is the nation's largest cable television operation. The relatively small investment in QVC could signify an important step toward interactive television and multimedia services. Time Warner Inc, IBM and other companies also envision interactive arrangements, but Diller and his partners have a particularly good chance to succeed because of their resources and marketing strength. In early Dec 1992, Liberty agreed to acquire a majority interest in QVC's rival, Home Shopping Network Inc. Diller, Malone and Comcast Corp CEO Brian Roberts may be planning to combine QVC and Home Shopping Network.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Megadeals bolster the embattled cable industry
Article Abstract:
The cable industry did well on Jun 9, 1997, with $4 billion in deals and several companies seeing increases in the value of their stocks. One key transaction involved Microsoft and Comcast. Bill Gates has agreed to invest $1 billion dollars in the cable company. The infusion of capital will allow Comcast to build services for PCs and TVs. Tele-Communications (TCI) and Cablevision Systems exchanged some assets with each other. This has decreased TCI's debt and provided Cablevision with market share in New York. Comcast's stocks rose $3.1875 a share to close at $21.4375 and TCI rose $1 a share to close at $16.0625. Cablevision shares were up by $9.75 to $44.375 and Time Warner rose to $47.75, also up by a $1. These deals could provide the cable industry with the means to introduce digital services.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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