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The story of Tisch who was never short of cash
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Newspaper Article
The story of Tisch who was never short of cash
1996
Overview
Seeing a business opportunity in summer camps, the family moved into that line and were in it for 11 years. The experience they gained in this business inevitably led them to gravitate to the resort business. The [Laurence Alan Tisch] family began to acquire hotel after hotel. It was a period in which Tisch learnt the acquisitions game. In 1995, nine years after the family moved into the hotels business, the Tisch brothers, Laurence (Larry) and Preston Robert (Bob), still in their 30s, were awash with cash. Their challenge was to keep it invested without taking undue risks. Tisch became interested in CBS because, like other media, its principal source of revenue is advertising which is relatively inflation proof. Also, broadcasting in the US is a near-monopoly, being dominated by CBS, the American Broadcasting Company (ABS), and the National Broadcasting Company (NBC)
Publisher
The New Straits Times Press (M) Berhad
Subject
