loonyblog.

The titan humbled.

AOL Time Warner is expected to vote tomorrow to change their name and revert back to their previous name of simply Time Warner. What a wild turn of events this is. Remember way back when in early 2000 when they announced this merger, how hopeful everyone was about this new plan to create the world's largest media company? I did some digging around just for the heck of it and turned up this CNET story from January 10, 2000. Here's an excerpt:

The new company will be called AOL Time Warner and will combine AOL's online services with Time Warner's vast media and cable assets. In a world where online services, media and entertainment are rapidly converging, the new company could have almost unparalleled resources.

"It is probably the most significant development in the Internet business world to date," said Phil Leigh, an analyst at Raymond James. "If it hasn't been evident to most of us yet, it should be obvious to us now that the Internet is about audio and video and not just merely text and graphics."

News of the merger, the largest in corporate history, sent Time Warner's stock up at "dot-com" speed, with shares rising $25.31, or 39 percent, to $90.06. The stock has traded as high as $78.63 and as low as $57.19 during the past 52 weeks.

Oh, those were the days, weren't they? Look at those stock prices!

Posted by jason at September 17, 2003 12:11 PM | TrackBack | Read more: Geek Culture