Business Wars

It’s early 1993 and television’s about to make a quantum leap into a multi-channel world where viewers can access movies from the comfort of their own sofa. But with Hollywood’s movie studios set to clean up in this new world, every media player wants a film factory to call their own. Including Hollywood hot-shot Barry Diller. And he wants to get on the ground floor of the revolution by buying Paramount – the studio he used to run. But to succeed he’ll need to first defeat his old boss – Paramount chairman Martin Davis.

It’s summer 1993 and QVC boss Barry Diller is ready to pull the trigger on his hostile takeover to buy Paramount. But he’s about to find he's got an enemy in his ranks who’s playing both sides. And while Diller tries to get his bid back on track, Paramount chairman Martin Davis is getting cosy with another suitor – Diller’s pal and Viacom owner, Sumner Redstone.

It’s the fall of 1993 and Viacom owner Sumner Redstone thinks he’s got Paramount all sown up. But QVC chief Barry Diller is about to launch a counter-strike and ignite an all-out war for control of the movie and publishing giant. And as the fight intensifies, both men are depending on their partners to have their back. But they’re about to find their back-up isn’t as solid as they think.

It’s Christmas 1993. The bidding war for Paramount is underway and QVC is far out in front. But Viacom owner Sumner Redstone’s not giving in. He’s trying to engineer a merger with Blockbuster that will arm him with the billions he needs to catch up with QVC. But Blockbuster chairman Wayne Huizenga isn’t about to roll over, and with the deadline for final offers approaching, Redstone’s almost out of time.

Can the former crown jewel of Hollywood keep up in the age of the streaming giants? To understand Paramount’s future, you’ve got to understand its past. So today, we’re throwing it back with Doug Herzog, a former executive at Paramount’s parent company Viacom. Doug greenlit some of cable’s biggest shows. South Park, anyone? He now hosts Basic, a podcast about the time when cable was cool. Later, we’ll check in on what’s in store for Paramount going forward with Matt Belloni. He’s a founding member of the entertainment industry newsletter Puck, and host of The Town from The Ringer, a podcast that goes behind-the-scenes in Hollywood.