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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: Bald Man from Mars who wrote (16736)	10/11/2000 7:27:27 AM
From: ColtonGang	Respond to of 24256

EU approves AOL-Time deal European regulators say AOL must cut ties with Germany's Bertelsmann October 11, 2000: 6:58 a.m. ET BRUSSELS (CNNfn) - European regulators conditionally approved Wednesday the $125 billion merger of America Online Inc. and Time Warner Inc., removing a major hurdle to the creation of the world's largest media company with assets in the entertainment, cable, and online industries. The European Commission, the executive arm of the European Union, gave the green light on condition that AOL (AOL: Research, Estimates) sever all of its "structural links" with the German media firm Bertelsmann AG, one of Time Warner's (TWX: Research, Estimates) top competitors. "The ultimate goal is to break the links between Bertelsmann and AOL," the commission said in a statement. The EU is seeking to prevent AOL from having exclusive access to Europe's leading source of music publishing rights. Time Warner, the parent of CNNfn, owns Warner Music, one of the world's five largest music publishers. AOL Europe has two joint ventures in Europe, one of which is a 50-50 venture with Bertelsmann, the other a tie-up with Bertelsmann and France's Vivendi