offer. A small number of shareholders, including Julian Tregar, rejected the offer from IFE. In November, TCW Capital made a bid, but withdrew it a few weeks later after reviewing the accounts of TVS. IFE increased its offer to £45.3M, but continued to be opposed by Julian Tregar, who blocked the deal on technical grounds, alleging that the offer was too low. IFE finally increased the offer to appease the remaining shareholders, and on January 23, 1993, their offer of £56.5M was finally accepted. The deal went into effect on February 1, 1993 (the month after Meridian began its first broadcast). In 1995, Michael Ogiens, formerly running CBS, as well as his production company Ogiens/Kane Company, joined MTM to serve as president of the company in hopes that MTM would be restored to its independent production glory. The following year, Josh Kane, fellow partner of the Ogiens/Kane Company joined MTM as vice president for the East Coast offices. In 1997, MTM hit layoffs at the syndication unit after the cancellation of the show The Cape. In 1997, International Family Entertainment was sold to News Corporation, and folded into its subsidiary Fox Kids Worldwide, eventually renamed to Fox Family Worldwide (a joint venture between Fox and Saban Entertainment). MTM's library assets however, were transferred over to 20th Television who retained them, even after Fox Family Worldwide was sold to The Walt Disney Company in 2001. The Pretender and Good News were both the last surviving shows to be produced by MTM. While Good News was cancelled in 1998 (when MTM ceased operations), The Pretender continued its run until 2000, as 20th Television inherited the show in 1997 (when News Corporation purchased MTM). MTM's library became property of Disney following its acquisition of 20th Century Fox in 2019. MTM Enterprises also included a record label, MTM Records — distributed by Capitol Records — which was in existence from 1984 to 1988. Television CBS connection MTM programs appeared almost exclusively on CBS until the early 1980s, when Grant Tinker assumed the additional role of president of NBC. Soon, NBC picked up a number of MTM shows, and Tinker stepped down as head of MTM to avoid a conflict of interest. His intention was to leave NBC after 5 years (in 1986) and return to MTM, taking over the reins from interim MTM president Arthur Price. However, Price fired many of the key players