SAN JOSE CALIFORNIA-
Google Time Warner?
Google Inc has proposed a hostile takeover bid to purchase Time Warner Inc for 50 billion dollars. A hostile takeover bid, meaning that Google will go straight to the shareholders of Time Warner in attempt to buyout that company. Google has decided to give the shareholders 35 billion in cash, 10 billion in stock options, and also 5 billion in assumed debt. Google is going straight to the shareholders because of the fear that the board of directors will not agree to sell Time Warner. The CEO of Google, Dr. Eric Schmidt had this to say about the chance to buyout a media company like Time Warner, “Google strikes while the iron is hot, and the iron is hot right now in the media industry. This is the correct move at the correct time for Google.” Nothing is finalized yet as the shareholders for Time Warner will soon be receiving an offer in the mail from Google.
Thursday, March 20, 2008
Practice News Story 8: Business
Posted by usumatty at 3/20/2008 09:31:00 AM
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1 comments:
Matt-
You did a great job on this PNS especially for how little time we had to write it, your extra one was even better. You provided a lot more details and made it a better story. Good job!
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