Word: mergerism
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...revenue over the past two years. The amount involved is almost trivial in a $38 billion-a-year company, but the implications are not. The agencies are investigating whether AOL executives contrived to misstate advertising revenues to puff up the performance of AOL just as it was closing its merger with Time Warner. AOL Time Warner CEO Richard Parsons has been adamant in declaring the company's innocence and asserting that it followed accounting rules properly, a position backed by its accountant Ernst & Young, which reaffirmed its opinion after the Washington Post brought the transactions to light last month...
Swiss was born four months ago of a hasty merger between the defunct national airline - crippled by a failed expansion plan and the post-Sept. 11 travel drought - and its regional subsidiary Crossair. Banks, private industry and the government chipped in ?1 billion to launch the company. To signal a new era while capitalizing on Swissair's traditional image of quality, the name and logo were changed only slightly. The fleet of 128 planes serves 126 cities in 60 countries, 30% fewer destinations than before the merger. "Some people expect this airline to follow Swissair's model," says Stephane Garelli...
Pittman had worked from the top down to fulfill the grand promises of the January 2001 merger of AOL and Time Warner, trying to force the proud and relatively autonomous old-media divisions--cable TV, movies, music, publishing, TV channels--to work more collaboratively with one another and with the online division, especially on joint advertising deals. But Pittman was a polarizing figure, as were his proteges from the AOL division. Youthful, cocky and ostentatiously wealthy from their AOL stock options, they swooped down on Time Warner as if they held the secrets to some new business reality. They quickly...
...maybe that should be "surprisingly relevant," for a series made almost two years ago. News was all set to run on tnt in January 2001 but was scuttled by new management after the merger that created AOL Time Warner (which owns TNT and TIME). This year Bravo bought all 13 episodes--at a deep discount. But despite being shot before 9/11, Ashleigh Banfield's dye job, Greta Van Susteren's eye job and Paula Zahn's "zipper" ad, News doesn't play like old news. Like E.R., whose frenzied pace it emulates, News nails the jargon and the adrenaline rush...
...RESIGNED. ROBERT PITTMAN, 48, chief operating officer of AOL Time Warner (owner of Time) and one of the architects of the spectacular rise of AOL prior to its merger with Time Warner in 2000; in New York City. Pittman was viewed as a formidable force within the media giant, but has been widely criticized lately as AOL's growth has stalled and the stock has imploded. "It's time to take a break," Pittman said...