Who stole Time Warner

Author: (American) Klein
Publisher:
Publish Date: 2005-09-01
Features: The real record of the largest corporate merger in the United States, fully showcasing how an ambitious business plan evolved into a catastrophic disaster. – Gil Goldsmith, Financial Times
A probing, compelling corporate biography, a business book for our time. – Steve Weinberg, Baltimore Sun
A perfect corporate storm, an insightful company story. – L. Gordon Crovitz, Wall Street Journal
Alec’s narrative is built on solid facts and vivid anecdotes, making it an indispensable book for anyone interested in the inner workings of corporate operations. – Gregory McNamee, Hollywood Reporter
Ultimately, the book is more about human nature than business activity, like a perfect Shakespearean tale. – Catherine Young, Business Week
Unveils how the largest media merger in history turned into a catastrophic disaster. In 1999, Wall Street was enamored with the internet economy, and the veteran media giant Time Warner sought to enter this emerging field to reap the profits of new technology. Meanwhile, America Online had anticipated the impending collapse of the dot-com bubble and aimed to merge with Time Warner to maintain its high stock price. In 2000, the largest merger in American history was completed in a blaze of glory and fanfare. On the surface, it was an exciting union of new media and traditional media. A vast media empire, full of promises, immense profits, and opportunities, was expected to emerge from the merger. However, the two companies faced significant cultural clashes, leading to disastrous consequences: investors suffered losses, government agencies conducted endless investigations, multiple corporate leaders resigned under pressure, and the once-glowing merger ultimately failed.