Corporate Mergers and Acquisitions: A Case Study: An Undergraduate and Graduate Student's Perspective Book

	Preface	ix
	Acknowledgements	xiii
Chapter I	Mergers And Acquisitions Of The 1980s And The Mid-1990s
	Introduction	1
	Background of the Acquisition Environment	2
	Analysis of the Entertainment and Information Industry	5
	Entertainment	5
	Information	8
	Financial Strength of the Industry	8
Chapter II	Analysis Of Paramount Communications And Viacom Incorporation At The Time Of The Transaction
	Paramount Communications	9
	Historical Background	9
	Financial Condition	11
	Viacom Incorporation	12
	Historical Background	12
	Financial Condition	13
	Basis For The Transaction	14
Chapter III	The Acquisition Process And The Emergence Of Rival Bidder For Control Of Paramount
	Techniques Of Corporate Acquisitions	17
	Multistep Acquisition Technique	17
	Traditional Single Step Merger Technique	21
	The Acquisition Process of Paramount by Viacom and the Bidding War	22
	Preliminary Negotiations and Press Release	22
	QVC Network Incorporation Jumps On The Scene	24
Chapter IV	The Financial And Non-Financial Considerations Apparent In The Paramount-Viacom Action
	Rationale Behind Acquisitions	27
	The Financial and Non-Financial Considerations Inherent in the Paramount-Viacom Deal	31
	Financial Considerations	32
	Non-financial Considerations	33
Chapter V	Analysis Of The Price Offered By Viacom To Acquire Paramount
	Basic Principles Of Pricing	37
	Investment Principle	38
	Alternatives Principle	38
	Investment Value Concept	39
	Price Paid By Viacom To Acquire Paramount	41
	P/E Ratio Method	42
	Discounted Cash Flow(DCF) Method	43
	Substitution Principle	47
Chapter VI	Viacom Incorporation's Financial Condition Before, During, And After
	Role Of Investment Bankers	49
	Role of Rival Bidders	52
	Viacom's Financial Condition	53
Chapter VII	Post-Acquisition Analysis Of Viacom And The Industry
	Integrating the Acquired Firm	57
	Post-Acquisition Analysis of Viacom	60
	Post-acquisition Analysis of the Entertainment Industry	64
Chapter VIII	The Future Of The Entertainment And Information Industry
	Effects of Competition	70
	Technological Advancement	74
	Demanding Public	79
	Conclusion	80
	About the Author	85
	Appendix	87
	Appendix A	89
	Appendix B	97
	Appendix C	119
	Appendix D	125
	Appendix E	139
	Appendix F	159
	Glossary	163
	Bibliography	167