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

To: ANANT who wrote (40557)	12/19/2000 5:56:50 AM
From: ANANT	Respond to of 41369

Time Warner to Lift Road Runner Stake, Warns of Weak Fourth-Quarter Results interactive.wsj.com ----------------------- Excepts: AOL and Time Warner both said they weren't changing their projections for 12% to 15% growth in revenue and 30% growth in earnings before interest, taxes, depreciation and amortization to $11 billion for the combined company in 2001. AOL said in Monday's same announcement that its fourth-quarter advertising and commerce revenues were "on track" to meet Wall Street expectations. ----------- Even as the companies' stocks dropped sharply after the profit warning, Moody's Investors Service said it raised the credit ratings on both AOL and Time Warner, reflecting the rating agency's expectation that their merger will close. It raised AOL from Ba1, below investment grade, several notches higher to Baa1, while Time Warner's rating was raised to Baa1 from Baa3. ------------ In Washington, the Federal Communications Commission is expected to decide by early January whether to approve the AOL-Time Warner merger -- the last regulatory approval needed before the deal can close. The FCC is expected to seek only modest additional conditions on the deal, aimed at opening AOL's popular instant-messaging service. The FCC is expected to ask AOL to agree to an open standard for instant messaging, or require that if the combined companies enhance the service with high-speed features such as video, they must also open the system to at least one competitor. ------------ Meanwhile, the software giant confirmed a report on a news site run by CNET Networks Inc. that Bill Gates had revisited the issue in conversations with FCC members, including Chairman William Kennard, late last week. -------------