A Peacock and a Rainbow.(Brief Article)

Broadcasting & Cable, January, 2001 by Higgins, John M.

Now, NBC is countering Diller's bid for Cablevision's networks

NBC Chairman Bob Wright is trying to get Rainbow Media to change channels, jumping in to best USA Networks' Barry Diller for the Cablevision Systems Corp.'s unit's entertainment networks.

Industry executives said Wright could have a difficult time because in initial discussions NBC was offering less than the numbers Duller has put up so far. USA Networks had initially tempted Cablevision Chairman Chuck Dolan with an offer of about $4 billion in cash, stock and assumed debt.

One industry executive said that NBC, which already owns a part of Rainbow, had offered roughly $3.8 billion, a number disputed by a participant in the negotiations. But Wright has argued that the stock...

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