Time Warner AOL
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The merger of Time Warner and America Online (AOL) created a monolithic media corporation that was twice as big as its closest rival, Viacom. The newly formed AOL Time Warner promised to redefine the nature of media itself. Such promise reshaped the industry when the merger was finalized in 2000, but two years later after the retirement of Time Warner chief Jerry Levin and a 2002 $54.2 billion loss, promises seem unmet (Who’s 69). AOL Time Warner is struggling without capitalizing on the “synergies” promised by merger. The AOL online service is sputtering, investors are weary, and an advertising slump is affecting the industry worldwide. Expanding AOL’s high-speed services, striking a deal with AT&T, and clarifying two messy cable partnership contracts from the 1990s are current challenges for the company. Regardless of AOL Time Warner’s struggles and challenges, the company is still worth more than $121 billion and remains the world’s biggest media conglomerate (Who’s 69). Because of its size, economic clout, and extensive media pipeline for content, the company enjoys enormous clout in negotiations. More significantly, the company faces ethical issues involved in its power relations with those who wish to distribute their product through its extensive media network. Warner Cable, HBO, the WB Network, AOL, Warner Music Group, Warner Brothers Films and Television, and Time, Inc. are all content carriers owned by the compan
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ed 60 percent (Olive 1). Such pressure in the face of enormous losses may further serve to undermine the ethics of AOL Time Warner decisions. Levin’s To-Do list includes things which could further erode the integrity of reporting, content, and even entertainment. AT&T Cable owns the largest cable-television system in the country, and AOL Time Warner wants to win the bidding war for it. However, industry analysts claim such acquisitions will further erode credibility of content and reporting due to pressures from diverse economic influences. When they are able to reach even millions more households should they acquire AT&T, AOL Time Warner will have more clout over media and content delivery than any entity ever in existence. Parsons claims that the numerous reports of soft-soaping or putting a spin on stories detrimental to the company will be resolved, “To the extent that we’ve lost credibility, repairing it is important” (Cohen 86). Despite these sentiments media watchdog groups and industry analysts are not so confident.
Many industry analysts argue that large conglomerates like AOL Time Warner shortchange consumers, because it forces them to pay for services that deliver news and entertainment but news and entertainmen
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Some common words found in the essay are:
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Approximate Word count = 1361
Approximate Pages = 5 (250 words per page)
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