Who's afraid of AOL Time Warner? Media giants.(The media giant has failed to redefine its industry)(Industry Overview)

Economist (US), The, January, 2002

For all its size, AOL Time Warner has failed to redefine its industry by blending old media with new

ONLY six months ago, the merger of AOL and Time Warner was reshaping the media industry, for two main reasons. First, because of its size: it was more than twice as big as its nearest rival, Viacom, and everybody else was scared of being trampled under the sheer weight of the new group. And second, because AOL Time Warner seemed to be redefining the nature of media itself, through its fusion of old and new. At that time, most activities of other big media groups--whether News Corp's obsession with snapping up DirecTV, a satellite broadcaster (which, for now, it has failed to do), or the attempts by Vivendi Universal, a French media giant, to secure distribution...

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