| |
|
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| 1993 |
|
Company reports third consecutive loss, this one of $326 million. Cuts
dividend. |
| |
|
|
| 1994 |
|
Sells electrical supplies, and distribution and controls businesses. Buys
Norden electronic systems division of United Technologies. Robert Watson completes
liquidation of credit unit four years early, receives $14.4 million for 18 months work.
Forms joint venture with CBS for TV and radio operations. Posts first profit in four
years. |
| |
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| 1995 |
|
Buys CBS for $5.4 billion. Sells land development business. |
| |
|
|
| 1996 |
|
Sells defense electronics unit, Knoll office furniture unit and
securities system unit. Buys Infinity Broadcasting. Announces plans to split company in
half, with industrial company to be spun off as separate stock issue. |
| |
|
|
| 1997 |
|
Sells Thermo King and announces plan to sell power generation unit. Buys
Nashville Network and Country Music Television cable channels, and American Radio Systems.
Ends plan to spin off industrial half and will sell remaining divisions instead. Becomes
CBS Corp. on Dec. 1. |
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| Chapter 6:
Free at Last |
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