AOL and Time Warner Announce Their Intent to Merge
Event: On 10 January 2000, AOL and Time Warner announced a plan
to merge to form AOL Time Warner. AOL shareholders would receive 55 percent
of the merged entity, with Time Warner shareholders getting 45 percent
of the new firm.
This combination gives AOL Time Warner a huge advantage over
traditional media companies (e.g., Walt Disney and Bertelsmann) as well
as other companies with most activities in the Internet alone and only
financial investments in other areas (e.g., Microsoft Network), and will
likely force more mergers between traditional and new media firms.
This deal is strategic in almost every respect, including:
l AOL, the world's largest Internet service provider, and Time Warner,
the world's biggest media content company, have formed an equity relationship
- not just a marketing agreement.
l Time Warner's cable infrastructure is the best-positioned[1]
in the United States to deliver interactive broadband services,
something AOL urgently needs and is in an excellent position to exploit.
l AOL's large installed base (more than 20 million subscribers)
is a good outlet for Time Warner's content and will further bolster[2]
Time Warner's already significant Web operations (i.e., CNN.com).
The narrowband and broadband communication infrastructures, strong
brands, content ownership and breadth of capabilities should position
AOL Time Warner for a clear leadership position in interactive media through
the planning period. Although Time Warner shareholders will likely see the value
of this combination plainly, some AOL stakeholders may not welcome the
deal as warmly in the short term; they may view this as a "tie-up"[3]
with a traditional media company that will weigh down[4]
a high-flying Internet pure-play. GartnerGroup believes that in
the long term, all stakeholders of AOL Time Warner will see the value
of this partnership.
注释：
[1]position：本文中用到的是一个词组be in a position
to do表示"有可能做某事"。但有一点要注意：I am/am not in a position to do sth.的说法除在正式文体中使用外，一般均以
I can/can not do sth.取代，以免显得做作。
[2]bolster：支持，鼓励。它经常与up连用，比如：bolster up
one's pride增强某人的自豪感。
[3]tie-up：联系。比如：I don't see the tie-up between
those two events. 我看不出这两个事件之间的联系。
[4]weigh down：压下。比如：The fruit weighed the
branches down. 果实压得树枝往下坠。它还能表示"忧愁"。比如： be weighed down with sorrow/cares/anxieties因忧愁/担心/焦虑而颓唐。
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Event: On 10 January 2000, AOL and Time Warner announced a plan
to merge to form AOL Time Warner. AOL shareholders would receive 55 percent
of the merged entity, with Time Warner shareholders getting 45 percent
of the new firm.