Media Industry
Industry: Email Alert RSS FeedIt's a New World for Ronald Perelman: financier suffers programming losses; plans affiliate purchases.
Broadcasting & Cable, January, 1994 by Foisie, Geoffrey
Financier suffers programing losses; plans affiliate purchases Ronald Perelman is creating a billion-dollar television company. He is also fallible. Both observations were detailed in a recent SEC filing that shows what happened to the financier's acquisition of New World Entertainment and what he intends to do with his new conglomerate.
Under the plan just filed, Perelman will contribute programing companies New World Entertainment and Four Star to group own SCI Television in exchange for 25.4 million SCI shares valued at $8.47 each, or $230 million in stock. SCI will be renamed New World communications $100 million to be absorbed Arguably, perelman is getting only $130 million for New World Entertainment, since he is absorbing $100...
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