Time Warner reorganizes divisions
Time Warner Inc. announced a plan to reorganize several divisions in a cost-cutting move, after the purchase of Tribune Company.
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Midway outbid Hasbro for Atari assets
Midway Games of Chicago had outbid Hasbro Interactive for $50 million, for the Atari name and assets from JTS Corporation. This was able to reunite all pieces of Atari, including Atari Games and Atari Corporation. Hasbro's price cost $5 million. Midway's price cost $50 million. Atari Games, meanwhile announced plans to launch Centipede 3D for the arcade market.
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Disney/Guy Gannett merger completed
The merger between The Walt Disney Company and Guy Gannett Communications was completed. All of the seven Guy Gannett television stations were integrated into the ABC owned-and-operated television station family.
KCRG-TV in Cedar Rapids and WMTW in Portland would switch to CBS, before it was completed, while WTXL-TV in Tallahassee would switch to NBC.
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NBC to buy WTXL-TV
NBC announced negotiations to buy the Tallahassee station WTXL-TV for $1 billion, which is more than Tydings' asking price. WTXL-TV operates as a NBC station shortly after Disney purchased Guy Gannett Communications.
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Berkshire Hathaway to buy Evening Post Industries
Berkshire Hathaway announced a $22.5 billion offer to purchase Evening Post Industries, who owns a series of successful newspapers in The Post and Courier. This makes Berkshire Hathaway the top leader in newspapers. The broadcasting unit Cordillera Communications will be sold to NBC, with some exceptions below.
The only exceptions were the Boise station KIVI-TV which was transferred to Disney/ABC, while KATC-TV in Lafayette, KTVQ in Billings, KXLF-TV in Butte and its Bozeman satellite KBZK, KRTV in Great Falls and its Helena satellite KXLH-LD, Missoula station KPAX-TV and its Kalispell satellite KAJJ-CD, which would instead be transferred to Sony/CBS.
Time Warner Inc. announced a plan to reorganize several divisions in a cost-cutting move, after the purchase of Tribune Company.
- Many Tribune-owned newspapers like The Chicago Tribune, were consolidated into Time Inc.
- The Tribune Entertainment syndicated division was folded into Telepictures Distribution and Warner Bros. Television Distribution.
- The Tribune Broadcasting and Turner Broadcasting television division were merged under the group of The WB Television Group, and the broadcasting unit was renamed to The WB Television Stations.
- The WB, a network formerly owned by Time Warner will be absorbed into Turner Broadcasting.
- New Line Cinema's distribution unit was folded into Warner Bros. Pictures.
- The news stations produced by Tribune Broadcasting was merged with CNN.
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Midway outbid Hasbro for Atari assets
Midway Games of Chicago had outbid Hasbro Interactive for $50 million, for the Atari name and assets from JTS Corporation. This was able to reunite all pieces of Atari, including Atari Games and Atari Corporation. Hasbro's price cost $5 million. Midway's price cost $50 million. Atari Games, meanwhile announced plans to launch Centipede 3D for the arcade market.
-
Disney/Guy Gannett merger completed
The merger between The Walt Disney Company and Guy Gannett Communications was completed. All of the seven Guy Gannett television stations were integrated into the ABC owned-and-operated television station family.
KCRG-TV in Cedar Rapids and WMTW in Portland would switch to CBS, before it was completed, while WTXL-TV in Tallahassee would switch to NBC.
-
NBC to buy WTXL-TV
NBC announced negotiations to buy the Tallahassee station WTXL-TV for $1 billion, which is more than Tydings' asking price. WTXL-TV operates as a NBC station shortly after Disney purchased Guy Gannett Communications.
-
Berkshire Hathaway to buy Evening Post Industries
Berkshire Hathaway announced a $22.5 billion offer to purchase Evening Post Industries, who owns a series of successful newspapers in The Post and Courier. This makes Berkshire Hathaway the top leader in newspapers. The broadcasting unit Cordillera Communications will be sold to NBC, with some exceptions below.
The only exceptions were the Boise station KIVI-TV which was transferred to Disney/ABC, while KATC-TV in Lafayette, KTVQ in Billings, KXLF-TV in Butte and its Bozeman satellite KBZK, KRTV in Great Falls and its Helena satellite KXLH-LD, Missoula station KPAX-TV and its Kalispell satellite KAJJ-CD, which would instead be transferred to Sony/CBS.
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