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VIACOM'S SUMNER REDSTONE EYEING 30 ROCK?
Published March 31, 1995
A source close to Viacom Chair Sumner Redstone believes that he will go after NBC when that network is officially "in play," according to the N.Y. POST. The price will be as much as $6B, and all of it will be borrowed. According to the report, companies like Viacom and Time Warner, who have "enormous debt" are being "encouraged by the banks to borrow more for new acquisitions" (N.Y. POST, 3/31)....In other TV news, Gaylord Entertainment agreed to sell its cable TV systems to a joint venture of St. Louis-based Charter Communications for $370M (WALL STREET JOURNAL, 3/31).
