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Simpson Thacher and Cravath handle AOL Time Warner deal

Author: | Published: 1 Feb 2000

The headline-grabbing merger between Time Warner and America Online (AOL) values the combined company at approximately $350 billion with annual revenues of more than $30 billion. AOL Time Warner, as the new company will be known, is described as "the world's first fully integrated media and communications company for the internet century." The group will contain such strong brands as Time magazine, CNN, CompuServ, AOL, Warner Bros and Fortune. Although the companies describe the deal as a "strategic merger of equals", it gives AOL a 55% stake in the...