Google looks for a hostile takeover of Time Warner
Posted: October 31, 2007 9:17 a.m.
PALO ALTO CA-Earlier today Google Inc(GOOG) put in a hostile takeover bid of $60 billion to acquire Time Warner Inc(TWX). Richard D. Parsons, CEO of Time Warner, when interviewed today said that this purchase was “out of the blue” but that Time Warner will look into the purchase.
Dr. Eric Schmidt, CEO of Google Inc said that the purchase estimate was a great step for Google since Time Warner has a “proven track record” and has “historically been open to mergers. Company’s like Google are always looking for ways to improve their effectiveness and one important step will be for them to get a reliable distributor.
Paul Kim, an industry analysis, stated that “Time Warner would be foolish not to accept that.” Of course all future thoughts are still put on hold pending a FCC ruling.
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