What Happened to AOL Time Warner? [The New York Times]
TIME WARNER INC (TWX)
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Source: The New York Times
Thursday marked the end of Time. AT&T said on Thursday that it had closed its $84.5 billion acquisition of Time Warner. The announcement marked the completion of a 17-year unwinding of the media behemoth. Today none of the sprawling businesses that made up AOL Time Warner stands as a separate publicly traded company. From 1989 to 2001, Time Inc. took part in a series of megamergers that made it the largest media company in the world. The deal-making culminated in Time Warner’s $165 billion combination with America Online. But by the start of 2016, Time Warner and Time Inc. were all that was left. Now both have been acquired. Here’s a brief timeline of some of biggest deals that built Time’s media empire and the asset sales that unwound it. 1989: Time Inc. and Warner Communications agree to merge, creating the largest media and entertainment conglomerate in the world.
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