Posted: 4:45 p.m. MT Oct. 31, 2007
Google Bids for Time Warner at $60 Billion
Palo Alto, CA - Time Warner Inc. (TWX) received a hostile takeover bid from Google Inc. (GOOG) today. After speaking with Industry Analysis Paul Kim, the extreme nature of this takeover is explained. According to Kim, Google has offered $60 billion in debt, cash, and stocks. The debt is measured at $5 billion, the cash at $10 billion, and the stock at $45 billion. The cash, he says, is an added bonus. CEO of Time Warner, Richard D. Parsons, says that they will do their analysis which may take a month.
Dr. Eric Schmidt CEO and Chair of Google, said, "We saw the need to add content production to our company quickly. They are one of the biggest content producers; we are one of the biggest content distributors. Merge content production with content distribution. It make good sense to us." He also commented that this takeover has been under consideration for under six months.
Terry Semel, CEO and Chair of Yahoo, Steve Balmer, CEO of Microsoft, and William Gates, Chair of Microsoft, all offered no comment.
2 comments:
Inverted pyramid...Awesome! i love that cause I only had to ready the first to know whats going on. I only noticed a fewer minor details to consider fixing. In the first sentence you ended with today, but it might sound better to start with, "Today," and then after the quote "We saw..." the next sentence used "under" twice, so maybe just find a different word to use. Silly comments, but thats all i really noticed. You really did a great job!
Very good use of information and description/details. It flows very well. Great job!
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