In Business This Week
Wall Street ready for yet another media empire? Ready or not, Ronald O. Perelman seems intent on creating another one. On Nov. 24, the financier said he planned to fold his TV production companies and film libraries into SCI Television, a chain of seven TV stations he took over last February. Once the new company, to be called New World Communications Group, is up and running strong, analysts expect Perelman to take it public.
Perelman, who already owns a controlling stake in comic-book giant Marvel Entertainment Group, has been tight-lipped about his ambitions. But he has been gradually acquiring interests in everything from the TV programmer that distributed The Whoopi Goldberg Show to one of the leading producers of infomercials.
In addition, Paramount has approached Perelman about putting SCI Television's stations into its new TV network, and bankers are betting he will make further media acquisitions. One popular theory: Perelman's friendship with Barry Diller will lead the two to form an alliance between New World and QVC. Stay tuned for the next round of media deals.EDITED BY THANE PETERSON Mark Landler