Word: warners
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...Warner Bros...
...leave aside for a moment the five lawsuits (and counting) that have been filed in the Delaware Court of Chancery protesting the purchase of Time Warner (TIME Digital's parent company) by AOL. One company that's famously litigious in the protection of its assets is Apple, and with the impending debut of its all-new operating system, code-named Aqua, Apple is cracking down on anyone who might infringe on its "look and feel." Its latest target is skinz.org, a site that offers software designed to make Microsoft's Windows operating system look and feel just like Aqua...
...dowry is not only Time Warner's news-and-entertainment empire, but also its cable television infrastructure, which will prove invaluable if the Virginia-based juggernaut is to dominate the next, broadband phase of Internet development as comprehensively as it has ruled the current era. "Time Warner's cable distribution system is unmatched," says Saporito. "And now those fat pipes are going to be pumping...
...says Saporito, "and the history of big mergers in other industries is that they really don't work very well. So the success of this one is far from guaranteed." The two sides also had to do some bargaining on valuation. In the end, the deal was this: Time Warner shareholders will be given 1.5 shares in the new entity, while AOL's will get a one-for-one swap. That gives AOL stockholders 55 percent of the new company, which will be headed up by Time Warner CEO Gerald Levin, and gives Time Warner equity a shot...
...future? Assuming it survives any regulatory challenges, the move will inevitably set off a rash of media-Internet marriages as competitors of both AOL and Time Warner reposition themselves to challenge the new corporation. Wall Street certainly thinks so; even as Time Warner stock spent the early trading going up, up, up (at one point reaching 102 before settling in at around 90-plus), stocks for a number of Internet and media companies, such as Lycos and Disney, also shot up on the news. As the process unfolds, the merger of news and entertainment of the past decade will...