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America Online CEO Stephen M. Case, left, and Time Warner CEO Gerald M. Levin listen to senators' opening statements during a hearing before the Senate Judiciary Committee on the merger of the two ...
History 1983–1991: early years. AOL began in 1983, as a short-lived venture called Control Video Corporation (CVC), founded by William von Meister.Its sole product was an online service called GameLine for the Atari 2600 video game console, after von Meister's idea of buying music on demand was rejected by Warner Bros. Subscribers bought a modem from the company for $49.95 and paid a one ...
Time Warner Entertainment had been looking for a way to embrace the digital revolution, while AOL wanted to anchor its stock price with more tangible assets. [46] The deal, officially filed on February 11, 2000, [45] [47] employed a merger structure in which each original company merged into a newly created entity.
Gerald M. Levin (May 6, 1939 – March 13, 2024) was an American media businessman. Levin was involved in brokering the merger between AOL and Time Warner in 2000, at the height of the dot-com bubble, a merger which was ultimately disadvantageous to Time Warner and described as "the biggest train wreck in the history of corporate America." [1]
Typically for the era, its stock was vastly inflated in value, and with a swollen share price, the company audaciously bought Time Warner (NYS: TWX) for about $182 billion. Ah, the Internet bubble ...
And the dotcom bubble popped in March 2000, mere weeks after the deal was announced publicly, sending AOL Time Warner’s stock plummeting. In 2002, AOL Time Warner reported nearly $100 billion in ...
Two months after the Time Warner-AOL deal was announced — on Mar. 10, 2000 — the Nasdaq, which had more than doubled from a year earlier, hit its closing peak of 5,048.62. Then the slide began ...
Time Warner Cable building entrance in Morrisville, North Carolina. Time Warner Cable, Inc. ( TWC) was an American cable television company. Before it was acquired by Charter Communications on May 18, 2016, it was ranked the second largest cable company in the United States by revenue behind only Comcast, operating in 29 states. [1]