Rebirth of the Tech Madman

...

EDT, March 30, 1998. At 3:20 in the morning, an extremely eye-catching headline appeared on the Dow Jones Newswires website - it was reported that Time Warner Turner would merge with AOL.

Two minutes later, two more headlines followed — AOL's Steve Case to chair new company; Time Warner Turner's Gerald Levine to head new company chief executive officer.

NBC Europe picked up the story almost immediately; Bloomberg News did the same 22 minutes later.

Shortly before 4 a.m., Peter Gabel captioned the headline with the story, and the article appeared on both the Dow Jones Newswires and the Wall Street Journal Web sites.

In addition to confirming the title, it also added that AOL shareholders will hold a majority of shares in the new company after the merger.

Although the more specific situation is still unclear, what is certain is that even if AOL's market value is about twice that of Time Warner Turner, the conditions for mergers and acquisitions are unlikely to overvalue AOL. The shareholding ratio is just over 50%.

Fortunately, everyone won't be confused for too long - in a few hours, Time Warner Turner and AOL will officially announce the merger of the two companies, and I believe more detailed information will be disclosed by then.

...

The current Internet wave era is a very special period of frenzy.

For example, on the one hand, many traditional large media companies are trying to explore ways to truly control the Internet as a tool; on the other hand, Internet companies are also constantly seeking to move entertainment and other content to the website to attract more customer.

There is no doubt that among the numerous companies, America Online is the best and most successful Internet company, so that many other companies are secretly learning its routines recognized by the market.

Under such circumstances, the merger of an important media company and a leading Internet company will inevitably have a major impact.

This is not only limited to the high stock prices of the two companies, but also the threat to other competitors in the industry after the strong alliance, which will inevitably lead to a major change in the pattern.

Therefore, it is not difficult to imagine that when the entire United States woke up on the morning of Monday, March 30, everyone was frantic with the news that this Internet media entertainment giant worth more than 300 billion U.S. dollars will be born. Shocked!

In this extremely shocked group, including employees of AOL and Time Warner Turner - after all, the vast majority of people are at the grassroots level of information asymmetry.

As for the reaction, there are two categories - the AOL side is extremely excited, and the Time Warner Turner side is slightly disappointed.

Henry Luce III, the son of Time magazine founder Henry Luce, was also the one who was late.

On the way to Manhattan, Henry Luce III answered a call to his cell phone and found out: The company his father started in the 1920s was about to be bought by an Internet upstart.

The news was as tragic to him as President John F. Kennedy had just been assassinated and the Challenger Airplane had just exploded into pieces.

But this is the reality, Henry Luce III is not even qualified to point fingers!

Wall Street was also shocked—maybe it sensed a little trouble, but there are countless such so-called omens every day, and only when the dust settles can it have real value.

When the London stock market opened first, the stocks of Time Warner Turner and AOL rose sharply; the same was true after the New York stock market opened.

But whether it's shocking the audience or the stock market's pursuit, in the final analysis, it depends on whether the two protagonists, Time Warner Turner and AOL, will officially announce the merger.

...

It's 10 am,

The official press conference of the first global media communication company facing the Internet century was grandly held at the AXA Justice Center, which is connected to the Rockefeller Center.

There is a multi-functional auditorium that can accommodate nearly 500 people, which can conveniently hold various activities including product launches, company meetings, live TV broadcasts, broadcasts, and award ceremonies. The merger of Warner and Turner Broadcasting Company was also officially announced here.

The media reporters who were notified filled the auditorium with their laptops; photographers crowded around to find the best place to take clear photos.

The atmosphere of this press conference was not the imaginary solemnity entangled in rigorous financial issues, but closer to a well-planned lively awards ceremony.

Gerald Levine, Richard Parsons, Steve Case, Robert Pittman, Michael Kelly, Ted Turner, Tang Huan... Wait, the people driving this merger All participants came to the stage.

Of course, the protagonists standing in the middle are AOL Time Warner Turner Chairman Steve Case and CEO Gerald Levine.

Many details of this press conference are very interesting-for example, in terms of dress, Internet rookie Steve Case wore a conservative black suit, and Gerald Levine wore a very recognizable Silicon Valley suit. Suits—a crumpled khaki uniform and an open-necked shirt.

Just as the saying goes - life is like a play!

One of the most ironic parts is that two hours before the vote of Time Warner Turner's board of directors, Gerald Levine and Steve Case, who almost fell apart because of power distribution disputes, were very intimate at this time ——In the reflector light and the constantly flashing spotlight, they hugged each other excitedly.

At this time, the two people explained to the gathered crowd tacitly that this is an equal merger and acquisition, and the cooperation between the two parties is also a match made in heaven, a love matched by fate.

Steve Case has repeatedly said: Gerald Levine and I have always been good friends in the past.

Gerald Levine, with pride on his face, responded in agreement: Reporters friends can look at the body language here, and the interaction relationship we already have-we have long been a family with excitement and hugs. company.

Of course, it can't just be Gerald Levine and Steve Case singing oboe at the scene, and other people sitting in a row of wooden canvas chairs have to express their opinions in cooperation.

Ted Turner, who clearly expressed his full support for the merger, boasted brazenly: Last night at nearly 9 o'clock, I was honored to sign the paper for the final vote.

You know, that vote pretty much represents 100 million shares that I own. I'm doing it with almost the same passion and enthusiasm as I did it for the first time over 40 years ago, maybe more than then.

Ted Turner has finished rambling, and Mr. Richest Man must also follow the crowd to blow some cowhide!

I still have that view - as Henry Luce, the founder of the era, once said a famous saying - the 20th century is the century of the United States; and the next century is the century of the Internet! Work, entertainment, socializing, shopping... ... and so on, with the ubiquitous Internet, new application methods will evolve.”

Speaking of this, Tang Huan emphasized: Even, everyone who is a network terminal can become an information publisher, and then a new form corresponding to traditional media - we_media, that is, self-media.

For example, America Online will soon adopt a technology research and development achievement of Zheru Software Company to launch a service called 'blog' - 'blog', so that every Internet user can experience that they are information publishing. By.

Therefore, at the dawn of the new millennium, all companies, large and small, must undergo a digital, networked transformation; otherwise, they face brutal demise.

Under such circumstances, Time Warner Turner is obviously very forward-looking and has come to the forefront of the industry.

This is a great turning point in history! I am honored to be one of the witnesses like everyone else.

...

With Ted Turner's Pearl and Jade First, Tang Huan's statement, although shocking, is unavoidably a bit plain.

So the reporter digs: We all know that before, Ted Turner was the largest individual shareholder of Time Warner Turner, and you are the largest individual shareholder of AOL; so, now this new AOL Time Warner Turner Here, who is the largest individual shareholder?

The richest man replied calmly: It's me!

Another reporter asked: We have noticed that AOL Time Warner Turner spans the three major fields of media, entertainment, and the Internet; while your Yanle Entertainment Group owns the three major Hollywood brands of United Artists, MGM, and Twentieth Century Fox. Brands — as a significant shareholder of both companies, how will you handle the entertainment industry conflict of interest between them?

I don't think there is a conflict of interest between Yanle Entertainment Group and AOL Time Warner Turner. Tang Huan smiled lightly, You should also know that Yanle Entertainment Group owns other companies such as United Artists, MGM, and Twentieth Century Fox. In addition to the three major Hollywood brands, there are Golden State Warriors, Oakland Raiders, and Oakland Athletics in sports; EA in video games; and Hasbro in toys.

This investment strategy shows that Yanle Entertainment Group is committed to providing a full range of entertainment content, and has been unremittingly exploring digitalization and networking over the years, and is confident that it has a unique advantage.

As a shareholder of Yanle Entertainment Group and AOL Time Warner Turner, I will continue to promote the complementary advantages between them - just like the previous content cooperation with Turner Broadcasting Company and AOL.

The other party continued to ask without giving up: Is it possible that there will be mergers and acquisitions between AOL Time Warner Turner and Yanle Entertainment Group in the future?

The world is unpredictable, and I can't give you an affirmative answer—as you can imagine, can the Internet develop so rapidly in just a few years? Mr. Richest Man shrugged, However, Yanle Entertainment Group has its own development. Strategy, recently also discussing an acquisition.”

A beautiful female reporter, using her own advantages, asked curiously: Then, can Tang reveal the content of Yanle Entertainment Group's acquisition? For example, the acquisition amount.

Sorry, I can't disclose too much information in advance. But ladies are always exceptions... Tang Huan pointed to the eye-catching banners and nameplates at the scene, The acquisition amount is definitely not comparable to that of AOL Time Warner Turner, that is More than 10 billion U.S. dollars.

The beautiful female reporter covered her mouth with her hands, and her face turned pale, while Ted Turner, who was watching from the side, laughed without any regard for manners, Don, I thought you would be led by them to digress!

...

The richest man has finished bragging about the big mountains, and it is once again the turn of AOL Time Warner Turner CEO Gerald Levine to point out the country in high spirits.

Faced with the sharp question of How did Time Warner Turner accept AOL's stock as legal tender, Gerald Levine replied straightforwardly: I accept market capital in cyberspace because I think that it is now Significant things are happening. Most people may not easily accept these values; Important belief; that's how you justify it! Justify the future with the future, the stock market value of new media is real, and the value of AOL is real...

As if realizing that what he said was a bit cloudy and obscure, Gerald Levin waved his hand to Tang Huan, who deliberately sat on the far side in a low-key manner, Now I can prove it - Forbes Global Rich List Didn't you just update Tang's net worth to more than 200 billion US dollars? If you look at the data analysis in detail, it is not difficult to understand the real value of the network.

...

A few days later, major mainstream media began to officially report - the first global media communication company facing the Internet century - AOL Time Warner Turner, worth more than 300 billion US dollars, was born!

Among the newspapers, even the always conservative New York Times has adopted a front page headline with a total of 3 lines and a height of 12.7 centimeters.

AOL agrees to buy Time Warner Turner for $165 billion.

This media acquisition is the richest ever.

The world's richest man, Tang, became the largest individual shareholder of AOL Time Warner Turner.

The New York Times even adopted a more exaggerated rendering method in a rare way-using a single page, under the eye-catching headline of You are going to acquire, published three photos containing four people.

The photo in the middle is Gerald Levine and Steve Case, who are as happy as a couple;

A photo on the lower left is - Ted Turner who made the better than life ~ sex metaphor;

The photo on the lower right is Tang Huan who gave the conclusion that the next century will be the century of the Internet. The meaning of you have to live a good life is so profound that it almost comes out of the paper.