经济学人324:有线电视 耗资610亿的提案

　　Business
商业报道
Cable television
有线电视
The 61 billion proposal
耗资610亿的提案
The latest plot twists in a continuing television drama
电视连续剧中最新的情节突转
SPURNED¹ suitors usually nurse the wounds of rejection² quietly.
令人唾弃的起诉者通常悄然的治愈拒绝的伤口。
2_副本.jpgNot in the cable-television industry. Having unsuccessfully approached Time Warner Cable twice last year, Charter Communications, a rival American cable operator, has gone public with a new proposal.
这并不是在电缆电视行业。美国有线电视运营商的竞争对手Charter通讯，两次试图接近时代华纳有线公司都未能成功，现在又有一个新的提案已经上市。
On January 14th Charter announced a bid valuing TWC at 61 billion including debt, offering 132.50 ashare compared with the 95 or so they were fetching early last June, when rumours³ of its approach emerged.
1月14日charter宣布为时代华纳有限公司估价610亿，提供一个份额132.50美元相比于原来的95美元高出许多。早在去年六月这些做法就流传出来了。
Charter's boss, Tom Rutledge, wrote a public letter to Robert Marcus, the boss of TWC, beseeching⁴ him to consider the offer, and held a conference call to seek shareholders⁶' backing for the bid.
Charter的老板汤姆?拉特里奇写了一封公开信给TWC的老板罗伯特马库斯，求他考虑该提案，并举行了电话会议，以寻求股东的支持。
TWC's executives are playing hard to get: they want a higher price, and vow⁷ not to let Charter steal the company.
TWC的高管们欲擒故纵，他们希望得到更高的价格，并发誓决不让charter公司窃取。
For those who have been following this cable drama, it has been a question of when, not if, the industry would consolidate⁸.
对于那些一直在遵循这种电缆剧的人来说，一直有个有关行业巩固的时间问题，而不是是否的问题。
TWC isAmerica's second-largest cable operator by subscribers, after Comcast, and Charter is the fourth-largest.
TWC是继康卡斯特后的美国第二大有线电视运营商，而charter排名第四位。
John Malone, one of the industry's pioneers, whose company, Liberty Media, is Charter's biggest shareholder⁵, is among many in the business calling for mergers¹⁰.
行业的先驱之一—约翰马龙，他的公司自有媒体是行业最大的股东，也是众多的业务中要求兼并的公司之一。
This would help cable firms fend¹¹ off competition from satellite operators, phone companies and streaming services like Netflix, which are poaching their customers for internet service and for films and TV shows.
这将帮助有线电视公司抵御来自卫星运营商，电话公司和如Netflix的流媒体服务等互联网服务对他们客户的偷猎和对电视电影节目的竞争。
Besides letting them cut costs—Charter reckons a merger⁹ with TWC could save at least 500ma year—scale would also give cable operators more clout¹² when negotiating with content providers over the rates they have to pay to carry their channels.
除了让他们削减成本，charter打算与TWC合并每年可以节省至少5亿，而且在于提供商洽谈必须支付的渠道费率时也使有线运营商更有底气。
Last year TWC got into a fight with CBS over its fees, which led to a blackout of CBS channels for a month until the two reached agreement.
去年TWC与CBS战斗而花费了过多的费用，这导致CBS频道停摆了一个多月，直到两方协议达成。
TWC lost more than 300,000 customers during the third quarter, many of them as a result of this spat¹³.
TWC在第三季度失去了超过30万客户，其中不乏是因为这种争吵而出现的结果。
With its latest proposal judged still inadequate¹⁴, Charter will have to decide whether to offer more.
其最新的提案也有不足之处，charter将不得不决定是否要提供更多。
Other cable firms, such as Comcast, may enter the fray¹⁵, offering to buy all or part of TWC.
其他的有线电视公司，如comcast公司，可能会加入战斗，提供购买TWC所需的全部或部分资金。
Pay-television is not a growth business for cable operators, so they must become more creative to increase sales.
付费电视并不是有线电视运营商增长业务的方式，所以他们想要增加销售必须变得更有创意。
One area of experimentation¹⁶ is to offer broadband along with a light television package, as several cable providers are doing in certain markets, to appeal to wallet-wise youngsters.
实验的一个方面是提供宽带伴随着光的电视包装，几个有线运营商正在做某些市场，以吸引钱包鼓鼓的青少年。
Others are selling metered broadband, with the cost tied to usage.
其他正在销售的计量宽带，花费和使用成本紧紧相连。
Cable firms and other internet providers may soon be free to try even more radical¹⁷ experiments with pricing.
有线电视公司和其他互联网服务供应商们可能很快可以尝试更为激进的实验与定价。
On January 14th an appeals court struck down federal rules that required them to treat all internet traffic equally—a policy called net neutrality.
1月14日上诉法院推翻了一个名为网络中立的联邦规则，这个政策要求他们对待所有互联网流量相等。
If the court's ruling prevails, this would let cable firms and other internet providers start demanding payment from bandwidth-hungry suppliers of video, such as Netflix, for speedy delivery to viewers.
如果以法院的判决为准，这将让有线电视公司和其他互联网服务供应商开始要求高宽带视频用户，如Netflix快速传达给观众。
Besides giving cable firms a juicy new source of income, this could curb¹⁸ the expansion of an increasingly powerful group of competitors for providing packages of video content.
除了给电缆公司提供收入的新来源，这可能遏制日益强大的集团竞争对手扩张提供视频内容。
The cable firms could also favour video sites in which they had an interest: for example, Comcast part-owns Hulu, a rival to Netflix.
电缆公司也可能对视频网站感兴趣，例如，Netflix的竞争对手hulu—他们有用comcast的部分股权。
As any fan knows, cable-TV dramas tend to be long-running and full of plot twists.
由于任何人都知道，电缆电视剧往往是长时间运行而又情节曲折，
This one will probably be no different. Stay tuned¹⁹.
这其中可能会没什么不同。敬请关注。
1.write to 给某人写信
As a child barber would write to football clubs and eagerly await their replies.
童年时，巴伯会写信给足球俱乐部，然后焦急地等待他们的回信。
Random²⁰ people sometimes write to him to ask for help in making certain chemicals, he says.
他说，有时会有来历不明的人写信给他，要求他协助制造某些化学品。
2.call for 去接；去取
Chinese companies call for fairer treatment from foreigners.
中国公司要求更公平的对待外国人。
A few relatively²¹ infrequent situations also call for a semicolon.
有几个比较少见的的情况也要求使用分号。
3.fend off 挡开
The theory presumably is that a few carefully targeted barriers will fend off more acute protectionist pressure from congress and shore up political support for free-trade deals.
理论上估计小心谨慎有针对性的障碍会避开国会猛烈的贸易保护主义压力，同时会得到赞同自由贸易政治力量的支持。
Mr saleh needs new ones quickly if he is to fend off the rising tide of opposition²² at home.
如果萨雷先生想挡开国内风生水起的反对大潮，他迫切需新的招数。
4.poach for 偷猎
Unfortunately, my boss's boss is now trying to poach him and has asked me for a reference.
不幸的是，我上司的上司现在想挖走他，并来征求我的意见。
Companies expanding in china often poach employees from other businesses, which has been a problem for closely held ermenegildo zegna holditalia spa.
在中国扩大业务的公司常常从其他公司挖角，这对私有公司杰尼亚公司（ermenegildo zegna holditalia spa）来说一直是个问题。

1 spurned   

v.一脚踢开，拒绝接受( spurn的过去式和过去分词 )

参考例句：

• Eve spurned Mark's invitation. 伊夫一口回绝了马克的邀请。
• With Mrs. Reed, I remember my best was always spurned with scorn. 对里德太太呢，我记得我的最大努力总是遭到唾弃。 来自辞典例句

2 rejection   

n.拒绝，被拒，抛弃，被弃

参考例句：

• He decided not to approach her for fear of rejection.他因怕遭拒绝决定不再去找她。
• The rejection plunged her into the dark depths of despair.遭到拒绝使她陷入了绝望的深渊。

3 rumours   

n.传闻( rumour的名词复数 )；风闻；谣言；谣传

参考例句：

• The rumours were completely baseless. 那些谣传毫无根据。
• Rumours of job losses were later confirmed. 裁员的传言后来得到了证实。

4 beseeching   

adj.恳求似的v.恳求，乞求（某事物）( beseech的现在分词 )

参考例句：

• She clung to her father, beseeching him for consent. 她紧紧挨着父亲，恳求他答应。 来自辞典例句
• He casts a beseeching glance at his son. 他用恳求的眼光望着儿子。 来自辞典例句

5 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

6 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任

7 vow   

n.誓(言)，誓约；v.起誓，立誓

参考例句：

• My parents are under a vow to go to church every Sunday.我父母许愿，每星期日都去做礼拜。
• I am under a vow to drink no wine.我已立誓戒酒。

8 consolidate   

v.使加固，使加强；(把...)联为一体，合并

参考例句：

• The two banks will consolidate in July next year. 这两家银行明年7月将合并。
• The government hoped to consolidate ten states to form three new ones.政府希望把十个州合并成三个新的州。

9 merger   

n.企业合并，并吞

参考例句：

• Acceptance of the offer is the first step to a merger.对这项提议的赞同是合并的第一步。
• Shareholders will be voting on the merger of the companies.股东们将投票表决公司合并问题。

10 mergers   

n.（两个公司的）合并( merger的名词复数 )

参考例句：

• Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。 来自辞典例句
• Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。 来自英汉非文学 - 政府文件

11 fend   

v.照料（自己），（自己）谋生，挡开，避开

参考例句：

• I've had to fend for myself since I was 14.我从十四岁时起就不得不照料自己。
• He raised his arm up to fend branches from his eyes.他举手将树枝从他眼前挡开。

12 clout   

n.用手猛击；权力，影响力

参考例句：

• The queen may have privilege but she has no real political clout.女王有特权，但无真正的政治影响力。
• He gave the little boy a clout on the head.他在那小男孩的头部打了一下。

13 spat   

n.口角，掌击；v.发出呼噜呼噜声

参考例句：

• Her parents always have spats.她的父母经常有些小的口角。
• There is only a spat between the brother and sister.那只是兄妹间的小吵小闹。

14 inadequate   

adj.(for,to)不充足的，不适当的

参考例句：

• The supply is inadequate to meet the demand.供不应求。
• She was inadequate to the demands that were made on her.她还无力满足对她提出的各项要求。

15 fray   

v.争吵；打斗；磨损，磨破；n.吵架；打斗

参考例句：

• Why should you get involved in their fray?你为什么要介入他们的争吵呢？
• Tempers began to fray in the hot weather.大热天脾气烦燥。

16 experimentation   

n.实验，试验，实验法

参考例句：

• Many people object to experimentation on animals.许多人反对用动物做实验。
• Study and analysis are likely to be far cheaper than experimentation.研究和分析的费用可能要比实验少得多。

17 radical   

n.激进份子，原子团，根号；adj.根本的，激进的，彻底的

参考例句：

• The patient got a radical cure in the hospital.病人在医院得到了根治。
• She is radical in her demands.她的要求十分偏激。

18 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

19 tuned   

adj.调谐的，已调谐的v.调音( tune的过去式和过去分词 )；调整；（给收音机、电视等）调谐；使协调

参考例句：

• The resort is tuned in to the tastes of young and old alike. 这个度假胜地适合各种口味，老少皆宜。
• The instruments should be tuned up before each performance. 每次演出开始前都应将乐器调好音。 来自《简明英汉词典》

20 random   

adj.随机的；任意的；n.偶然的(或随便的)行动

参考例句：

• The list is arranged in a random order.名单排列不分先后。
• On random inspection the meat was found to be bad.经抽查，发现肉变质了。

21 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

22 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。