BUSINESSWEEK ONLINE : SEPTEMBER 20, 1999 ISSUE
NEWS: ANALYSIS & COMMENTARY

The Media Giants


WALT DISNEY

1998 REVENUES: $22.9 billion

STRENGTHS: Exceptionally strong brand names; potent cross-promotion among well-diversified properties; popular cable networks, including ESPN and the Disney Channel

WEAKNESSES: Lackluster overall growth; ABC Network's poor showing


NEWS CORP.

1998 REVENUES: $13.6 billion

STRENGTHS: Fox Network's young, hip image; successful cross-promotion among well-diversified businesses, including sports networks; distribution via satellite

WEAKNESSES: Heavily invested in yet-to-be-profitable startups


VIACOM/CBS

1998 REVENUES: $18.9 billion (if merged)

STRENGTHS: Popular cable networks, including MTV and Nickelodeon; strong cash flow from radio; merger provides potential for cross-promotion across a variety of media

WEAKNESSES: Dependent on advertising revenues; CBS' older demographics


TIME WARNER

1998 REVENUES: $26.8 billion

STRENGTHS: Cable system and popular cable networks, including CNN and Home Box Office; TV production; film subsidiary New Line Cinema

WEAKNESSES: No TV stations; not big in lucrative local advertising market



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