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- W2501044198 abstract "On 1 August 1995, The New York Times carried a front-page story boldly captioned ‘WALT DISNEY ACQUIRING ABC IN DEAL WORTH $19 BILLION; ENTERTAINMENT GIANT BORN’. In slightly smaller type, next to the photograph of a laughing Michael D. Eisner, chairman of Walt Disney, and a self-satisfied Thomas S. Murphy, chairman of Capital Cities/ABC, the subtitle read ‘wall st. stunned’. The merger combined one of the world’s largest entertainment companies, whose sales in 1994 exceeded $10 billion, with one of the world’s largest media companies, with total sales that year of over $6 billion. At the time it was the second largest takeover in the history of American corporate capitalism. A remark made by an industry analyst in 1989 when Warner Communications acquired Time Inc. now seems increasingly prescient. According to Richard Gold, in an article titled ‘No Bigness Like Show Bigness’, the merger of Time and Warner ‘could prefigure a 21st century in which all of show business is controlled by two or three conglomerates’.1 Ten years and many mergers later, the communications/entertainment/information/media industries are headed toward just such a century." @default.
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- W2501044198 date "2000-01-01" @default.
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- W2501044198 title "Postmodern Arts and the Birth of a Democratic Culture" @default.
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