June 11, 2004, 4.32pm 100 comments » • 12,318 Views

The merger that time forgot

Today, I dug out an old analysis piece I wrote about the media mega-merger of America Online and Time Warner.

It’s interesting to view the four-year-old news in its modern context. The coverage at the time was full of bubble hubris about AOL/TW’s huge potential as a multi-media behemoth.

The move would create a worldwide market leader capable, in theory, of the most heinous abuses of communication power; it would, as I wrote, usher in fabulous new vertically-integrated cross-promotion opportunities; and it would change the way we think about the internet forever.

Things haven’t quite panned out that way, of course. Thanks to a combination of management culture-clash and large-scale professional over-optimism, those claims are now made to look wildly unfulfilled.

I wonder if, in another few years, we will be saying the same about today’s bubble?

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