Paperback, 352 pages
English language
Published Feb. 1, 2005 by Collins.
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Every era has its merger; every era has its story. For the New Media age it was an even bigger disaster: the AOL–Time Warner deal. At the time AOL and Time Warner were considered a matchless combination of old media content and new media distribution. But very soon after the deal was announced things started to go bad – and then from bad to worse. Less than four years after the deal was announced, every significant figure in the deal –save the politically astute Richard Parsons – has left the company, along with scores of others. Nearly a $100 billion was written off and a stock that once traded at $100 now trades near $10. What happened? Where did it all go wrong? In this deeply sourced and deftly written book, Nina Munk gives us a window into the minds of two of the oddest men to ever run billion–dollar …
Every era has its merger; every era has its story. For the New Media age it was an even bigger disaster: the AOL–Time Warner deal. At the time AOL and Time Warner were considered a matchless combination of old media content and new media distribution. But very soon after the deal was announced things started to go bad – and then from bad to worse. Less than four years after the deal was announced, every significant figure in the deal –save the politically astute Richard Parsons – has left the company, along with scores of others. Nearly a $100 billion was written off and a stock that once traded at $100 now trades near $10. What happened? Where did it all go wrong? In this deeply sourced and deftly written book, Nina Munk gives us a window into the minds of two of the oddest men to ever run billion–dollar empires. Steve Case, the boy wonder who built AOL one free floppy disk at a time, was searching for a way out of the New Economy. Meanwhile Jerry Levin, who'd made his reputation as a visionary when he put HBO on satellite distribution, was searching for a monumental deal. These two men, more interested in their place in history than their personal fortunes, each thought they were out–smarting the other.
Subjects
- Takeovers, mergers & buy-outs
- Online information services industry
- Corporate & Business History - General
- Business / Economics / Finance
- Business & Economics
- Management - General
- Business/Economics
- USA
- History
- Industries - Media & Communications Industries
- Business & Economics / Corporate History
- United States
- Business
- Biography
- Businessmen
- Internet service providers