CenturyLink Chief Executive Officer Glen Post this week dismissed speculation that the telecom would be a good candidate to buy Sprint Nextel if AT&T's proposed buyout of T-Mobile USA goes through. "Our focus now is on the integration of Qwest and the acquisition of Savvis. We're not looking to go after anything big right now," Post said in an interview after CenturyLink's annual shareholder meeting Wednesday. He told investors, "CenturyLink is at or near the top of every category in the industry."
The New York Post reports that Ted Turner's behind-the-scenes agitation to complicate the Metro-Goldwyn-Mayer-Time Warner deal is alienating him from the board of the media conglomerate. The deal may not be subject to shareholder approval, which means Turner cannot vote his shares to block the deal.
The New York Post reports tensions between Sumner Redstone and Mel Karmazin may be escalating, according to people familiar with Viacom's board. Redstone is rumored to be pursuing a big deal -- possibly with Time Warner -- although spokespeople for both companies have denied the two companies have had talks.
A top-level source has told the New York Post that tensions between Viacom Chairman and CEO Sumner Redstone and President and COO Mel Karmazin could result in Karmazin's departure after today's scheduled board meeting. The power struggle reportedly has trickled down to unit heads. The media have reported conflicts between Redstone and Karmazin since Viacom's acquisition of CBS.
Tension has soared recently between Viacom COO Mel Karmazin and CEO Summer Redstone over Karmazin's desire to run the company, according to The New York Post. The 77-year-old Redstone is expected to step down sometime soon, but hasn't indicated that Karmazin is on his short list for the top position.