Originally posted by Counterfit
I was joking, but now you can see my temper. Try reading it again, you'll notice that it's pure speculation. Also, check your info, 01/11/01 AOL and Time Warner complete merger to create Time Warner 1.) Don't be such a hypocrite 2.) Since when was this thread about being sensible?
Well, I apologize for getting annoyed. I don't like people who's facts aren't correct to jump all over other people.
So I still don't like you jumping all over people, whether eclipse or me.
I don't particularly care to see your temper, but I am interested in pointing out your mistakes, especially when you call me a hypocrite. I won't call you a hypocrite. Rather, I'll call you a person who doesn't research thoroughly enough, doesn't follow mergers & acquisitions, or happened to be closing his eyes and ears to business world during 2001.
Your link was totally uninformative. It states that AOL and Time Warner merged to create Time Warner. Yes. But here's the actual story.
AOL and Time Warner merged to create AOL Time Warner. Only recently was there a name change to Time Warner. This probably was because AOL has been the weaker end of the company and for PR reasons, it would be better off as just Time Warner.
It's actually unfortunate that the only piece of evidence you had that I was wrong was a name change for the company. That's really not enough.
AOL DID acquire Time Warner, but don't take MY word for it.
I'm sure you'll trust a little publication called Forbes. I've heard that they run a business story or two from time to time.
Forbes.com
I'm not afraid, though, to display the pertinent quote, instead of just providing a link. I think this line pretty much sums up my point. Notice how it says that "Time Warner" is being "acquired" by "AOL."
Time Warner is about to be visited by the latter as the Federal Communications Commission cleared the final obstacle to its being acquired by America Online.
And if you put more stock in the Brits than those crrrrazy Americans, then you'll appreciate this tidbit from the BBC.
BBC
The following information isn't as outright, but it definitely suggests that AOL wasn't being bought out by Time Warner.
In terms of market capitalisation, America Online is about twice the size of Time Warner, but AOL's shareholders are asked to control only 55% of the new company.
AOL's market cap was twice that of Time Warner. Somehow, I doubt that Time Warner would be buying AOL. Of course, they weren't, since AOL shareholders had to "settle" for a 55% stake in the new company...What's that? AOL shareholders had the
controlling share of stock? That means that the shareholders, the
owners of AOL, were asked to "compromise" for the controlling holdings in AOL Time Warner. That means AOL's owners together had full control over the newly formed corporation.
So next time you want to call someone a hypocrite, do a little more research than just to grab a vague factoid off of a company timeline.