In your interest.
Online Personal Finance Magazine
No beating about the bush.
How did Capital Cities create value? Shreedhar Kanetkar presents the fascinating story
In 1986, Thomas S Murphy, chairman of Capital Cities Communications, bought American Broadcasting Corporation for $3.5 billion. He sold Capital Cities/ABC to the Walt Disney Company for $19 billion 10 years later. As Fortune’s Carol Loomis observed later, in a certain sense, Tom Murphy’s actions marked...