-Cavet Lector- <A HREF="http://www.ctrl.org/">www.ctrl.org</A> -Cui Bono-
1/11/2k
"IN NATURE, GIANTISM IS A LAST STAGE BEFORE EXTICTION." --Joshua2
====================
Kris Millegan wrote:
>
> --------------------------------------------------------------------------------
>
> Subject: FC: AOL to buy Time Warner in $350 billion merger
> Date: Mon, 10 Jan 2000 10:34:29 -0500
> From: Declan McCullagh <[EMAIL PROTECTED]>
> To: [EMAIL PROTECTED]
>
> **********
>
> [I will be on CNN at 12 noon et and CNN international at 1 pm et today
> talking about this deal. --Declan]
>
> **********
>
> http://www.wired.com/news/business/0,1367,33531,00.html
>
> AOL, Time Warner to Merge
> by Declan McCullagh ([EMAIL PROTECTED])
>
> 7:15 a.m. 10.Jan.2000 PST
> America Online said Monday it was buying
> entertainment colossus Time Warner in a
> deal that will create the world's largest
> media and online services company.
>
> AOL chairman and CEO Steve Case will be
> chairman of the new firm, which will be
> called AOL Time Warner and have a
> market value of some US$350 billion.
>
> Although both companies say the deal is
> a "merger of equals," AOL shareholders
> will own about 55 percent of the new
> corporation, with the rest going to Time
> Warner shareholders.
>
> The company created by the all-stock
> deal will be traded under the symbol AOL
> on the New York Stock Exchange and
> headed by Gerald Levin, Time Warner
> chairman and CEO.
>
> It would allow the new technology titan
> to easily leap ahead of its rivals in traffic
> rankings, beating out Yahoo.com, which
> currently tops the Media Metrix list at
> 35,400,000 unique visitors a month. The
> combo of AOL and Time Warner's most
> popular sites totals over 44,200,000
> visitors for November 1999.
>
> The move has already drawn a rush of
> investors to the companies on Monday,
> both of which have seen their stock
> languish in recent months. Time Warner,
> which closed Friday at 64 3/4, had not
> managed to best its 52-week high of 78
> 5/8 from last spring, and AOL's closing
> price of 73 3/4 is about 10 points lower
> than its May 1999 value.
>
> [...]
>
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