London, Jan. 10 (Bloomberg) -- Time Warner Inc., the world's
largest media and entertainment company, and America Online Inc.,
the world's largest online service, plan to merge, CNBC reported.
Gerald Levin, Time Warner's chairman and chief executive,
will be the new company's chief executive, while America Online
Chairman and CEO Steve Case will be its chairman, CNBC said in a
report citing Dow Jones Newswires.
Time Warner's German-traded shares rose 5.5 euros, or 8.9
percent, to 67, while America Online's rose 5.3 euros, or 7.5
percent, to 76.2 in Frankfurt.
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