Monday, January 11, 2010

How the AOL-Time Warner Merger Went So Wrong

To call the transaction the worst in history, as it is now taught in business schools, does not begin to tell the story of how some of the brightest minds in technology and media collaborated to produce a deal now regarded by many as a colossal mistake.

How did it happen?

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MR. PARSONS Jerry came into my office and said that he had been talking with Steve, who he had gotten to know on a trip that he had taken abroad to China. And Jerry and Steve had gone and met, had a few dinners after that, and he said we have been talking to Steve about this and that he thought this was something we ought to do and him and Steve were sort of going down the road to see how it could work and he wanted to get my views.

Fundamentally I thought it was a good idea.

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