Joint America Online/Time Warner Statement On EarthLink-Time Warner Cable Definitive Agreement
Monday November 20, 7:36 am Eastern Time
Press Release
DULLES, Va. & NEW YORK--(BUSINESS WIRE)--Nov. 20, 2000--Today's definitive agreement between EarthLink (Nasdaq:ELNK - news) and Time Warner Cable marks an important advance in providing consumers with choice among multiple high-speed ISPs over Time Warner Cable's broadband networks, and represents the cable industry's most far-reaching partnership with an unaffiliated ISP. This agreement is a win for consumers and a win for the development of broadband cable Internet access. This is a good business agreement for both Time Warner Cable and EarthLink, and we believe that it will become a model for future broadband cable alliances. In order to provide the FTC with time to consider the technical and other details of the EarthLink-Time Warner Cable agreement, America Online and Time Warner have extended the FTC's review period for two weeks beyond November 30. The Companies expect to close their merger by the end of the year or the very early days of 2001.
Caution Concerning Forward-Looking Statements
This document includes certain ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are naturally subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein. The forward-looking statements herein include statements about the proposed Time Warner/America Online transaction. The following factors, among others, could cause actual results to differ materially from those described herein: the risk that the Time Warner and America Online businesses will not be integrated successfully; the costs related to the merger; inability to obtain, or meet conditions imposed for, governmental approvals for the merger of America Online and Time Warner; and other economic, business, competitive, technological and/or regulatory factors affecting Time Warner's and America Online's businesses generally. More detailed information about those factors is set forth in filings by Time Warner, America Online and AOL Time Warner with the Securities and Exchange Commission, including America Online's most recent annual report on Form 10-K, Time Warner's most recent quarterly report on Form 10-Q and current reports on Form 8-K. None of Time Warner, America Online or AOL Time Warner is under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. |
