Viacom, Seagram tame dealmaking -- for now

Article Abstract:

Seagram CEO Edgar Bronfman and Viacom CEO Sumner Redstone, two of the most prolific dealmakers in the entertainment industry, have declared engaging in merger and acquisition deals is not included in their short-term plans. Instead, the two executives are planning to concentrate in overseeing operations of their existing businesses. Bronfman, whose company, Seagram, is buying Polygram for $10.4 billion, expressed confidence his company will be able to achieve growth from the acquisition. Redstone said he expects no big transactions in the near future and rejected idea of an alliance with NBC or CBS.

Comment:

Its CEO Sumner Redstone says engaging in merger & acquisition deals is not included in his short-term plans for the company

Canada, Executive changes & profiles, Liquor, Distilleries, Seagram Company Ltd., Article

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Viacom considers paying an unusually high price for BET

Article Abstract:

Viacom has agreed to buy BET Holdings, which owns cable TV channels BET and BET On Jazz, for $3 billion. The acquisition allows Viacom to reach 61 million Black cable and satellite TV subscribers. However, analysts say Viacom may have paid too high a price for BET Holdings, considering the latter's low ratings. It would be paying $49 per home reached and about 24 times BET Holdings' expected cash flow of $124 million for 2001. On the other hand, BET has the highest cash-flow margin in the industry, at 59.2%.

Cable TV Networks, Parent-to-subsidiary activities, Cable networks (Television), BET Holdings Inc.

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No bidding war yet for AT&T cable

Article Abstract:

Charter Communications is not attempting to top Comcast's all-stock bid for AT&T Broadband. CEO, Jerry Kent, said that the company is not partnering up for a potential deal and is not negotiating with AT and T, although he would not rule anything out.

Acquisitions & mergers, Cable and other pay TV services, Comcast Cable Communications Inc., Charter Communications Inc., AT&T Broadband and Internet Services Inc., CHTR

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