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AMERICA ONLINE AND TIME WARNER WILL MERGE TO CREATE WORLD'S FIRST INTERNET-AGE MEDIA AND COMMUNICATIONS COMPANY-January 10, 2000
DULLES, VIRGINIA and NEW YORK, NEW YORK, January 10, 2000 -- America Online, Inc. [NYSE:AOL] and Time Warner Inc. [NYSE:TWX] today announced a strategic merger of equals to create the world's first fully integrated media and communications company for the Internet Century in an all-stock combination valued at $350 billion. To be named AOL Time Warner Inc. with combined revenues of over $30 billion, this unique new enterprise will be the premier global company delivering branded information, entertainment and communications services across rapidly converging media platforms.
