Business Wars The Battle for Paramount Pictures | Hidden Agendas | 2
Aug 10, 2022
In the summer of 1993, QVC's Barry Diller prepares for a hostile takeover of Paramount Pictures but faces unexpected betrayal from within his ranks. Meanwhile, Paramount's Martin Davis cozies up to Diller's rival, Sumner Redstone of Viacom, intensifying the corporate drama. The podcast explores the intricate power struggles, strategic maneuvers, and the personal dynamics at play as key players navigate the high-stakes landscape of media mergers. Friendships are tested and alliances shift in this riveting battle for control.
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Malone's Strategic Alliance
- John Malone, anticipating deregulation, seeks a strategic partnership with Bell Atlantic's CEO, Ray Smith.
- Malone agrees to include Liberty Media in the deal, despite potential regulatory hurdles, prioritizing the larger Bell Atlantic merger.
The Setup
- Barry Diller, after leaving Paramount, allies with cable giants to potentially take over.
- Martin Davis, Paramount's chairman, considers merging with Viacom, a move threatened by Diller's plans.
Malone's Manipulation
- Martin Davis learns of Diller's hostile takeover plan, confronts Malone, and demands he control Diller.
- Malone manipulates the situation, seemingly recusing himself but replacing himself with a loyal subordinate, ultimately withdrawing support, forcing Diller to retreat.
