Time Warner and AOL end of ten-year wedding

"Suits" and "jeans" cannot coexist for a long time yesterday, media giant Time Warner officially stripped its subsidiary, AOL, to the end of the 10-year failed marriage. Time Warner shareholders face an absurd situation: Ten years ago, when the United States online and Time Warner, a new and traditional world-level information giant merged, Time magazine has enthusiastically appraised it as "the greatest innovation in history," but 10 years later, when Time Warner sadly stripped AOL, "time"　　It was once again rated as one of the top ten best Deals of the 2009. Divorced couples searching the road today, AOL's shares will officially start trading in the NYSE.　　Over the past decade, AOL's market capitalisation has slipped from its peak of $163 billion trillion to less than $3 billion trillion, and Time Warner, once so huge, is also in the dark. "Divorce today may not be a bad thing for both sides," he said. "The Information Research Center of the Chinese Academy of Social Sciences, the Secretary-General Qiping analysis, from the traditional media management constraints, AOL will be a real new business development."　　Time Warner, which has been the core business of traditional media, is now throwing its own baggage. According to the introduction, Time Warner has spun off the cable television business, facing "arranges", "wealth" and several magazines into a recession, the publishing industry will become its next link.　　By dumping these bad debts, if Time Warner could continue to do fine in its own film and television field, it might be able to weather the crisis. Leaving a new and old fusion failure even as the two sides formally break up, many Wall Street analysts are still sentimentally attached to the marriage.　　Because, whether from the profit model or the concept of cooperation, the merger of two companies can be seen as a new channel and the old content of a perfect match. According to the original concept of cooperation, AOL has the perfect online channel, while Time Warner can provide the various content produced by its CNN, film company, Warner Music Group. At the time of the merger, Keith, the chief executive of AOL, said with ambition: "We will radically change the face of the media and the internet world."　　"However, two companies have always been unable to integrate into the business model." "Time Warner and AOL do not match." Qiping says the goal of AOL and Time Warner is to combine the Internet with traditional media to create a seamless super media company.　　As a result, the two sides offset each other's strengths. Rey Baldes, a market research firm Gartner analyst, recalls that the management of both Time Warner and AOL has been very much in dispute since the merger, and that two completely different business models have almost never worked well together. "Warner is like a bunch of old-school suits, and it's hard to get along with technicians who are used to wearing jeans," he said. "Especially in the first two years of cooperation, the dotcom bust broke and AOL's market capitalisation plunged. Time Warner and AOL's shareholders began to blame each other. With the SpearShield gradually upgraded, the management of both sides basically do not contact.　　Carl Ick, a major shareholder in Time Warner, has vowed every year to "abandon" AOL. In the meantime, News Corp, Disney and NBC have collaborated on Hulu, the online video services company, and are popular across the United States.　　The close and widespread extent of their cooperation is simply unthinkable between AOL and Time Warner. AOL, which has been too old to be spun off, quickly threw out its plans. December 4, AOL's new CEO Armstrong announced that it will transform AOL into a digital media giant that provides original content. A year ago, 80% of the content on the AOL website was provided by third parties, according to Armstrong. Today has reached 80% original.　　At the same time, the site has recruited a number of freelance writers to provide high-quality local news and sports information, restaurant discounts and local events, while slashing the traditional media industry. However, "Business Week" in this caustic evaluation said: Even if AOL again hard contention, at most can only get Google finger seam under the slide of the leftovers.　　Internet users are moving to broadband and satellite networks in 2003, but AOL is still holding on to dial-up services, which is also a foreshadowing of today's downturn. Now, the dilemma for Mr Armstrong is that in the first 9 months of 2009, AOL's Internet access business fell 28%, to $1.08 billion, and advertising revenue fell 20% to $1.28 billion.　　Until 2014, AOL's revenues and profits are expected to slide. "Interactive services and value-added services have become the dominant model of internet profitability." "AOL is the era of dial-up internet giants, but now has become a faltering, need to arm the elderly." Qiping said the Time Warner spin-off of AOL would be good for Time Warner, but it was a heavy blow. "Time Warner's departure from AOL does not mean it will ever leave the internet, but AOL faces a bigger challenge." ”