Wednesday, October 31, 2007

business

Practice News Story #8 : Business
10:12 a.m. October 31, 2007
Google to Buy Time Warner
PALO ALTO, California—

Google Inc. has made a hostile take over bid to Time Warner to the tune of $60 billion dollars. CEO and Chairman of Google Inc. Dr. Eric Schmidt has reported that the reason for the offer being so high is that the ability for both content distribution and production would be well worth the money for Google. “We have over priced the value in their stock…$10 billion in cash, $5 billion in assumed debt, and $45 billion in stocks” makes up the $60 billion dollar offer.
Richard D. Parsons, CEO Time Warner, has said “mergers have been previously discussed with other companies such as Yahoo and Microsoft, but never a buy out.” “We are considering and interested, but it will take some time to make a decision”
Microsoft and Yahoo have no comment.

1 comment:

Jared and Emilie said...

this was pretty good considering the allotted time. one main thing i noticed that you may have already corrected was the wording on "$60 billion dollars". since you have the dollar sign its not necessary to write dollars. good job though! :)