Darkbeer
02-13-2003, 07:48 PM
CNN, ABC News Merger Is Put on Hold (http://www.latimes.com/business/la-fi-cnn14feb14,1,4914999.story?coll=la%2Dhome%2Dheadli nes) - Los Angeles Times, 2/14/03
QuikQuote: AOL Time Warner pulled the plug Thursday on a proposed merger between its CNN news network and Walt Disney Co.'s ABC News, formally ending months of discussions about how to make such a complicated combination work.
In a short statement, the company said: "After careful review, it was determined that although there are great merits and possibilities to a merger of ABC and CNN news, for us, the potential problems associated with the completion of such a transaction and the integration of these two distinct and great cultures was more than we want to pursue at this time. We wish to thank everyone at the Walt Disney Company and ABC News for their complete professionalism throughout this process."
QuikQuote: AOL Time Warner pulled the plug Thursday on a proposed merger between its CNN news network and Walt Disney Co.'s ABC News, formally ending months of discussions about how to make such a complicated combination work.
In a short statement, the company said: "After careful review, it was determined that although there are great merits and possibilities to a merger of ABC and CNN news, for us, the potential problems associated with the completion of such a transaction and the integration of these two distinct and great cultures was more than we want to pursue at this time. We wish to thank everyone at the Walt Disney Company and ABC News for their complete professionalism throughout this process."