|
Wheeling and dealing
Michael Jordan started making changes at Westinghouse soon after he became chairman and
CEO in July 1993, selling and buying until he had remade the company into what it is now,
a radio and television behemoth.
Sales
| Date |
|
Company/sector |
|
$ billion |
| Jan. 1994 |
|
Distribution and controls |
|
1.10 |
| Feb. 1994 |
|
Electrical supplies |
|
0.34 |
| July 1995 |
|
Westinghouse Communities (land development) |
|
0.43 |
| March 1996 |
|
The Knoll Group (office furniture) |
|
0.56 |
| March 1996 |
|
Defense electronics |
|
3.00 |
| Dec. 1996 |
|
Westinghouse Security Systems |
|
0.43 |
| Oct. 1997 |
|
Thermo King (refrigerated transport) |
|
2.56 |
| *Nov. 1997 |
|
Power generation |
|
1.53 |
| Total |
9.95 |
Acquisitions
| Date |
|
Company/sector |
|
$ billion |
| Nov. 1995 |
|
CBS |
|
5.40 |
| Dec. 1996 |
|
Infinity Broadcasting |
|
4.70 |
| *Sept. 1997 |
|
American Radio Systems |
|
2.60 |
| Oct. 1997 |
|
The Nashville Network, Country Music TV |
|
1.55 |
| 1995-97 |
|
Others |
|
1.50 |
| Total |
|
|
|
15.75 |
*pending
Source: Corporate reports
|
