THE BIG ONE: AOL BUYS TIME WARNER.(Brief Article)
Multichannel News, January, 2000 by FARRELL, MIKE
Steve Case Buys a Cable Company
NEW YORK -- Five years ago, America Online Inc. chairman Steve Case told a group of industry analysts in Boston how much he admired the cable-TV business model.
At that session on July 14, 1995, sponsored by the Interactive Services Association, Case went so far as to give the cable model of bundling content and distribution into affordable packages for consumers partial credit for AOL'S ascension to the top of the Internet heap.
Last week, Case extended that argument as far as possible. He agreed, stunningly, to pay what last Thursday was $152.8 billion in AOL stock and assumed debt for Time Warner Inc., the No. 1 cable operator, with 13 million subscribers, and owner of a passel of cable networks,...
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