StudentShare solutions
Triangle menu

Aol Time Warner Merger By Nina Munk - Essay Example

Not dowloaded yet

Extract of sample
Aol Time Warner Merger By Nina Munk

During the same year the group's recording and music publishing arm was sold for US$2.6 billion to a consortium led by Edgar Bronfman (former head of Universal), becoming Warner Music.
''Fools Rush In,'' by Nina Munk, a contributing editor at Vanity Fair, is the best so far. Marrying exemplary reporting with lively, lucid writing, she makes a convincing and devastating at the same time case that Levin wrecked the legacy of Henry Luce, the founder of Time Inc., in the service of his ego. Levin wanted to redeem his weak performance at the company's helm with what he liked to call a transforming transaction. He had already transformed Time once, in 1990, when he helped engineer its merger with Warner Communications. That was another lousy deal. What he transformed in the AOL merger was $200 billion of his shareholders' money into nothing.
Munk's entry to the growing list of books about the AOL Time Warner merger provides a thorough recap of the catastrophe, with the author coming to her own conclusion on the causes behind the merger's failure. After more than 100 pages of the obligatory background on AOL and its chairman, Steve Case, and Time Warner and chairman Jerry Levin, Munk begins to make her argument that Case and Levin, who ran their companies with few checks and balances, bear the greatest responsibility for orchestrating a deal that had little chance to succeed. She presses her case by hitting hard on the fact that few Time Warner executives knew about the pending deal until hours before it was announced, and that even fewer executives supported the proposal. That due diligence for the $165-billion merger only took three days and that many of the merged company's top managers sold large chunks of stock (including Case who sold shares worth $100 million) shortly after the deal closed is further proof to Munk that the combination was not well thought out and that many managers had doubts about its success from the very beginning. For readers looking for a quick review of events surrounding the AOL Time Warner merger, Munk's book fits the bill, but for those who are already well versed on the subject, Munk (a contributing editor at Vanity Fair) adds little new information.
Many readers will find Munk's book comparable in terms of entertainment value (especially humor) as well as quality of thinking and writing. Both were thoroughly researched. The completion of each was aided and enriched by dozens of rigorous interviews of key participants. However, there is one significant difference: senior-level executives at Enron (notably Jeffrey Skilling and Andrew Fastow) have been accused and some charged with serious illegalities whereas none of those involved with the merger of AOL and Time Warner have, at least until now. "This is a the story of how two men, Jerry Levin and Steve Case, caused what may be the biggest train wreck in the history of corporate America." Munk goes on to suggest that "In broad terms, the disastrous merger of Time Warner and AOL epitomizes the culture of corporate America and Wall Street in the late 1900s."
Part Three The Big Deal: AOL and Time Warner, 1999-2000. Step-by-step, Munk traces the process which eventually resulted in "the biggest train wreck in the history of corporate America." I was fascinated to learn about the nature and extent of Ted Turner's involvement amidst corporate intrigues which would have made the Medici envious.
Part Four ...Show more

Summary

The 2000 merger between America Online (AOL) and Time-Warner - itself the product of the merger between the Time-Life publishing group and the Warner music, film, publishing and theme parks conglomerate - was praised by some analysts as an ideal marriage of content with carriage.
Author : stantonclay
Aol Time Warner Merger By Nina Munk essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Aol Time Warner Merger By Nina Munk"
with a personal 20% discount.
Grab the best paper

Related Essays

El Nino/La Nina
The purpose of this study is to examine the interaction between the Ocean and the climate taking El Nino and La Nina phenomena as the areas of focus and lastly to evaluate the impacts of such phenomena on the society and environment in general. This study will review the works of different authors so as to elaborate on the study topic.
11 pages (2750 words) Essay
Southland by Nina Revoyr
The novel written by Nina Revoyr, titled “Southland” was one of the bestsellers in 2003. The novel is primarily based on a suspense thriller about the murder of four black men during the post world-war II in 1965. Conversely, critics and analysts not only judged the novel due to its well-structured plot scenario, but they also judged due to the fact that the novel showcases multiple edges of a race-based society.
9 pages (2250 words) Essay
El Nino/La Nina
This study will review the works of different authors so as to elaborate on the study topic. To begin with the concept El Nino refers to the warming of the Pacific ocean water surface primarily along the coast of Ecuador, Peru, Chile and the great broader basin found in the equatorial pacific.
10 pages (2500 words) Essay
Munk Debate
However, China is developing speedily, and its fiscal growth is now higher than the US. China will indeed rule the world because of its many opportunities and the diminishing advantages (Munk debates). China is a nation with the highest inhabitants worldwide, and it has eleven cities each having a population of about 6 million.
4 pages (1000 words) Essay
AOL Time Warner: Deal of the Century Turns into Disaster of a Lifetime
The merger was not only the conglomeration of some technology with some media, but essentially the first shot across the bow of the 21st century media landscape. It meant that consumers could get their entertainment and news through the global Internet network.
4 pages (1000 words) Essay
The Time-Warner merger
On the other hand, Paramount qualifies only on one count, i.e, that of a strong domestic and international theatrical distribution presence. Although it is part owner of USA Network, one of the largest cable networks, ownership is not independent but in partnership with MCA which poses management problems for Time.
2 pages (500 words) Essay
Case Study: AOL
The company is the biggest global Internet Service Provider with millions of subscribers worldwide. Merger with Time Warner was effected, in 2001, by AOL to emerge as the world’s biggest service online and media, infotainment and entertainment service services
6 pages (1500 words) Essay
Managing Change- Strategies for mergers and acquisition AOL and TIME WARNER
There is a little doubt regarding the issue that changes in a business firm or in a corporate house are felt most in case of mergers and acquisitions. In the case of mergers, two similar sized companies decide to come together for mutual
8 pages (2000 words) Essay
Southland by Nina Revoyr
In a socialistic form, the novel represents three ethnic groups, i.e. Asians, Blacks and Mexicans. It also illustrates the behavior of
6 pages (1500 words) Essay
Time Warner and Comcast Merger
According to the paper the enterprise clients should also experience improvement, whilst advertisers will have their focus on one position. While this merger might sound bitter to the regulators, it is actually enticing and from the experience of the customers with cable networks, they should have reason to smile with the emergence of a one giant company. 
4 pages (1000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation