Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Rascal who wrote (40514)	12/14/2000 5:39:07 AM
From: ANANT	Respond to of 41369

AOL, Time Warner ink wide Net pact By CBS.MarketWatch.com Last Update: 4:50 AM ET Dec 14, 2000 WASHINGTON (CBS.MW) - American Online (AOL: news, msgs) and Time Warner (TWX: news, msgs) signed a wide-ranging pact with federal antitrust officials under which they commit to open their cable systems to Internet competitors, paying the way for approval of the mega-merger, the Wall Street Journal reported Thursday. With last minute concessions that followed months of wrangling, the Federal Trade Commission (FTC) is moving towards a vote in favor of the deal today, the Journal said, citing people close to the deliberations. While some FTC commissioners had lingering concerns about the deal, the concessions now appear to make approval likely, the sources said. ---------------------- AOL and Time Warner Pledge Cable Access to Ease FTC Fears interactive.wsj.com Excerpts: WASHINGTON -- The chief executives of America Online Inc. and Time Warner Inc. Wednesday night signed a wide-ranging agreement with federal antitrust enforcers under which they commit to open their cable systems across the nation to Internet competitors, clearing the way for approval of the companies' long-delayed $111 billion combination. With last-minute concessions that followed months of wrangling, the Federal Trade Commission is moving toward a vote in favor of the deal Thursday, people close to the deliberations said. In a closed meeting scheduled to begin at 11 a.m., FTC staff are expected to tell the five-member commission that the agreement will help protect competition in the fast-growing market for high-speed Internet service, these people said. While some commissioners had lingering doubts about the deal, the concessions from the companies now appear to make its approval likely, the people said. ----------------- Competitive Safeguards Some of the critics' concerns could be answered Thursday, when FTC officials are expected to detail the agreement signed by Stephen Case of AOL and Gerald Levin of Time Warner. The accord requires that at least one AOL competitor be signed on to offer high-speed cable Internet service in cities served by Time Warner before AOL itself can offer service via those lines, people briefed on its terms have said. In most of those cities, Time Warner must open its lines to two more online-service rivals within 90 days, and -- in a concession added Wednesday -- as many as three more must be added after that unless technological barriers would prevent it. If these terms aren't met, AOL risks civil sanctions for violating the pact, which will have the force of a court order if approved by the commission. ---------------- If it is approved by the FTC, AOL's acquisition of Time Warner will then be reviewed by the Federal Communications Commission, whose chairman, William Kennard, has said it can be completed by year end. The FCC is expected to seek only modest further conditions, such as assurances that AOL will move to open its wildly popular instant-messaging systems to competitors, including Microsoft Corp -----------