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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (38145)	1/23/2000 9:23:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 41369

The markets will go crazy...what with AOL-TWX-EMI and PG-AHP-WLA.....there will be a flurry of mergers that will keep the DOJ busy all year!.....more on EMI:Access to the new media titan's resources would give the merged EMI-Warner much-needed access to Internet-based distribution channels for its music. The deal will create a business with sales of more than $8 billion a year and bring together a number of well-known record labels including Virgin, Atlantic, WEA, and HMV. Carlo Campomagnani, media analyst with Credit Suisse First Boston, said both sides stood to gain from the tie-up and the increased exposure to Internet consumers. "It gives EMI the flexibility to place content in front of individual buyers," Campomagnani said. "In the old days, EMI was worth a function of cash generated from record selling. In the current environment its content can be used to do a lot more things and to attract Internet traffic." A report in the Sunday Telegraph said the deal would bring about cost savings of as much as 500 million pounds ($824 million) a year out of combined annual overheads of around three billion pounds. The paper said Eric Nicoli -- who joined EMI from United Biscuits Plc only last year -- was expected to relinquish his role as EMI chairman, but a leading role was believed to have been reserved for Ken Berry, chief executive of EMI's record business. Recent industry speculation has swirled around the likelihood of German media group Bertelsmann AG making a bid for EMI, though neither group has commented. EMI -- which broke off merger talks with Canada's Seagram in 1998 -- was seen as vulnerable to a takeover as the world's last major free-standing music group. Most of its rivals are already owned by powerful, larger media concerns. The pace of change is accelerating in the music industry as the Internet promises to revolutionise distribution, making traditional compact discs and tapes redundant. Industry experts believe that it is only a matter of time before most music is sold over the Internet, being downloaded onto PCs and recording devices. Warner is the fourth largest music business in the world and EMI is fifth, but the combined group would be catapulted into global leadership. EMI reported a 10 percent rise in first-half pre-tax profits to 75.4 million pounds. Its shares closed down 7 percent in London on Friday at 648 pence, following a broker downgrade, valuing the company at 5.5 billion pounds. Time Warner was up $3-5/16 in New York at $91-1/4. Copyright © 1999-2000 Reuters Limited. DON'T FORGET AOLA..........America Online's Latin American unit said Thursday that it has filed to sell $575 million of its stock in an initial public offering to be traded over the Nasdaq, under the ticker symbol AOLA. The company is a joint venture between Dulles, Va.-based AOL, the world's largest ISP, and the Venezuelan Cisneros media group, and offers Internet services in Brazil, the largest economy in Latin America.