- published: 06 Nov 2011
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Mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or new location, without creating a subsidiary, other child entity or using a joint venture. The distinction between a "merger" and an "acquisition" has become increasingly blurred in various respects (particularly in terms of the ultimate economic outcome), although it has not completely disappeared in all situations.
An acquisition is the purchase of one business or company by another company or other business entity. Consolidation occurs when two companies combine together to form a new enterprise altogether, and neither of the previous companies survives independently. Acquisitions are divided into "private" and "public" acquisitions, depending on whether the acquireee or merging company (also termed a target) is or is not listed on public stock markets. An additional dimension or categorization consists of whether an acquisition is friendly or hostile.
Howard Allan Stern (born January 12, 1954) is an American radio personality, television host, author, actor and photographer best known for his radio show which was nationally syndicated from 1986 to 2005. He gained wide recognition in the 1990s where he was labeled a "shock jock" for his outspoken and sometimes controversial style. Stern has been exclusive to Sirius XM Radio, a subscription-based satellite radio service, since 2006. The son of a former recording and radio engineer, Stern wished to pursue a career in radio at the age of five. While at Boston University he worked at the campus station WTBU before a brief stint at WNTN in Newton, Massachusetts.
He developed his on-air personality when he landed positions at WRNW in Briarcliff Manor, WCCC in Hartford and WWWW in Detroit. In 1981, he was paired with his current newscaster and co-host Robin Quivers at WWDC in Washington, D.C. Stern then moved to WNBC in New York City in 1982 to host afternoons until his firing in 1985. He re-emerged on WXRK that year, and became one of the most popular radio personalities during his 20-year tenure at the station. Stern's show is the most-fined radio program, after the Federal Communications Commission (FCC) issued fines to station licensees for allegedly indecent material that totaled $2.5 million. Stern has won Billboard's Nationally Syndicated Air Personality of the Year award eight times, and is one of the highest-paid figures in radio.