Media Industry
Industry: Email Alert RSS FeedUS West vote: An 'ahah' among 'ho-hums'.(investor relations)
Broadcasting & Cable, June, 1998 by Colman, Price
Hmmm, what were the results of that vote, anyway? US West Inc. isn't telling. Ballot issues voted on at annual shareholder meetings tend to be ho-hum affairs. But results of one item voted on at US West's meeting to break up its phone and cable operations is generating some interest among financial players: A shareholder proposal to knock down one of the surviving two companies' takeover defenses by staggering terms of the board of directors. Many Wall Street and industry executives believe that the cable unit, MediaOne Group, might be the target of a takeover. One likely antagonist is former Continental Cablevision chairman Amos Hostetter, who happens to own a hefty chunk of MediaOne stock (NYSE: UMG) and was infuriated when MediaOne Chairman Charles Lillis reneged on...
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