Timeline of Major Media Mergers
A chronology of recent major mergers and acquisitions that have shaped the media industry:
Jan. 3, 1986 _ Capital Cities Communications Inc. purchases American Broadcasting Cos. for $3.5 billion to create Capital Cities/ABC Inc.
June 9, 1986 _ General Electric Co. buys RCA Corp., parent company of National Broadcasting Co. and NBC television network for $6.4 billion. At the time, the deal was the largest non-oil acquisition in U.S. history.
Nov. 7, 1989 _ Sony Corp. buys film and television producer Columbia Pictures Entertainment Inc. for $3.4 billion.
Jan. 10, 1990 _ Warner Communications Inc. and Time Inc. complete $14.1 billion merger, creating world’s biggest media conglomerate.
Jan. 3, 1991 _ Matsushita Electric Industrial Co. of Japan buys MCA Inc. for $6.9 billion.
Sept. 31, 1993 _ The New York Times Co. buys Affiliated Publications Inc., parent company of The Boston Globe, for $1.1 billion, the biggest takeover in U.S. newspaper history.
July 7, 1994 _ Viacom Inc. buys Paramount Communications Inc. for $10 billion after winning a bidding war against QVC Inc. to buy the movie, publishing and sports company.
Aug. 29, 1994 _ Viacom Inc. buys video rental chain Blockbuster Entertainment Corp. for $8 billion.
June 5, 1995 _ Seagram Co. buys MCA Inc. from Matsushita for $5.7 billion and renames it Universal Studios.
Nov. 24, 1995 _ Westinghouse Electric Corp. buys CBS Inc. for $5.4 billion.
Feb. 9, 1996 _ Walt Disney Co. buys Capital Cities/ABC for $19 billion, creating a media conglomerate in movies, television and publishing.
Oct. 11, 1996 _ Time Warner and Turner Broadcasting System complete $7.6 billion merger.
Dec. 31, 1996 _ Westinghouse Electric Corp.’s CBS unit buys Infinity Broadcasting Co. for $4.7 billion, combining the nation’s two biggest radio station operators.
Dec. 1, 1997 _ Westinghouse Electric Corp. changes name to CBS Inc. shortly after deciding to sell its traditional businesses such as power-generation equipment and light bulbs.
Dec. 9, 1998 _ CBS Corp. raises $2.9 billion by selling a 17 percent stake in Infinity Broadcasting Corp., its radio and outdoor advertising business. The initial public offering of stock is the largest ever in the media industry.
Dec. 10, 1998 _ Seagram Co. buys the PolyGram music company for $10.4 billion.
April 1, 1999 _ CBS Corp. announces agreement to buy King World Productions Inc., the leading syndicator of television programs, for $2.5 billion.
Sept. 7, 1999 _ Viacom Inc. announces deal to buy CBS Corp. for $34.5 billion.
Oct. 4, 1999 _ Clear Channel Communications Inc. agrees to buy AMFM Inc. for $16.6 billion in stock, creating the nation’s largest radio company.
Jan. 10, 2000 _ America Online Inc. agrees to buy Time Warner Inc. in $135 billion merger agreement, the largest-ever combination in the media industry.
March 13, 2000 _ Chicago Tribune publisher Tribune Co. agrees to buy Times Mirror Co., publisher of the Los Angeles Times, for $6.5 billion.