January 16, 2000 |
The real issue at stake in America Online's decision to buy Time Warner is not the triumph of the new media over the old. Instead, it's whether New York, the unrivaled capital of the old American national industrial economy, will dominate the new American global information economy. Whether it succeeds in doing so will depend, in large part, on how its West Coast rivals--Southern California, the Bay Area and Redmond, Wash.
December 24, 2000 |
1. Price of Energy Soars: Energy worries returned with a vengeance, as rising demand trumkcped constrained supplies to boost every key commodity to 10-year or even all-time highs. American consumers were forced to think about energy--and reconsider their seemingly insatiable thirst foxr it--in ways unseen since the oil shocks of the 1970s. Californians suffered perhaps most of all, enduring what one observer called "a three-ring circus" of woe.
August 4, 2002 |
In June 2000, as they completed negotiations over a merger that would create the world's second-largest entertainment conglomerate, Edgar Bronfman Jr. pulled aside Jean-Marie Messier, whose Vivendi was about to take over Bronfman's Seagram Co., the owner of Universal Studios and other marquee properties. "You know what they say in the U.S. about entrepreneurial families?" Bronfman asked, according to Messier's recollection.
November 2, 2001 |
In a surprise move, AOL Time Warner Inc. removed Mike Kelly as chief financial officer of the media conglomerate, transferring him to serve as chief operating officer of its Internet business, which has been hit by slowing growth. Kelly moves from a position with oversight over the financial functions of the entire company to managing day-to-day operations of one business unit-albeit its largest as measured by revenue.
March 28, 2001 |
AOL Time Warner Chief Executive Gerald M. Levin was paid a $10-million bonus last year, largely for successfully pulling off the company's $95-billion merger, according to financial statements filed Tuesday. The bonus, up 11% from the previous year, was on top of Levin's $1-million base salary. AOL Time Warner Chairman Stephen M. Case got a $1.1-million bonus on top of his $725,000 salary.
January 7, 2002 |
AOL Time Warner Inc., the biggest media and Internet company, is expected to revise its 2002 revenue and profit forecasts today as advertising slumps and subscriber growth at its America Online unit slows, analysts said. The New York-based company is coping with lower advertising sales at units such as magazines, cable TV networks and America Online, where third-quarter ad sales fell 12% from the previous quarter. Shares of AOL Time Warner rose 37 cents Friday to close at $31.