NEW YORK -- After a 3 1/2 month struggle, QVC Network may be close to declaring itself the winner of Paramount Communications.
Viacom Inc., QVC's foe in the battle for the movie studio, has until 5:30 p.m. today to file an amended bid with the Securities and Exchange Commission.
As of press time Thursday, Viacom had not changed its bid.
QVC's offer is valued at $9.6 billion and Viacom's, at around $9.4 billion.
Once the winning bid is in, the tender offer must stay open for an additional 10 days. But the drama could play on.
"There are things that nobody thought of," said a source close to the bidding. "What happens, if after the 10-day period, no one gets 51 percent of the stock?"
Paramount declined comment on that question, but an industry expert said if neither got 51 percent of the stock, both parties could extend their offers and, potentially, raise their bids.
For the last week, Viacom has been rumored to be negotiating with its equity partners, Blockbuster Entertainment Corp. and Nynex Corp., for additional investments.
"The only two parties who don't think they're in very expensive land seem to be Barry Diller, [QVC's chairman] and Sumner Redstone [chairman of Viacom]," said James M. Meyer, director of research for Janney, Montgomery Scott in Philadelphia. "They have separated from a lot of Wall Street on just how much [their] vision is worth."
Meyer said both Nynex and Blockbuster want a stronger voice in the new company. The sticking point in the negotiations has been the fact that they all have their own -- sometimes competing -- agendas.
On Thursday, Paramount's stock closed at 78 1/2, up 1/4 on the New York Stock Exchange. Viacom's stock closed on the NYSE at 47, down 7/8, and QVC's stock closed at 39 1/2, down 1 on NASDAQ.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)