Time Warner Inc. cited first quarter losses resulting from
"sluggish" music sales and high costs from several cable
acquisitions. The company posted a loss of $93M, or $.32 a
share, up from a $.28 per share loss forecasted by Zacks
Investment Research. For now, the proposed merger with Turner
Broadcasting has "overshadowed" earnings performance
(BLOOMBERG/L.A. TIMES, 4/17)....Bell Atlantic and Nynex have
revived talks on a proposed $22B merger. The deal would
"eclipse" the proposed merger of two other Bells, SBC Commun. and
Pacific Telesis (WALL STREET JOURNAL, 4/17). ....There have been
"exploratory talks" on a merger of Tele-TV and Americast, the two
Baby Bell TV alliances. Disney President Michael Ovitz is
expected to play "a major role" in talks, with Tele-TV's Howard
Stringer a candidate to run a combined venture (S.F. CHRONICLE,
4/17)....Two top Disney execs -- Joe Roth and Robert Iger -- will
oversee the company's TV operations (WALL STREET JOURNAL,
4/17).... VARIETY examines Disney's new network sports approach.
One ABC insider, on the merging of operations under Disney: "All
this is about is getting the mid-level guys in both departments
to work together, instead of constantly being at cross-purposes"
(VARIETY, 4/15-21 issue).
