Practice news story 8: Business
10/31/07
Jason Rogers
Google Makes Hostile Take-Over Bid
Palo Alto, CA-Google Inc. made a hostile take-over bid for Time Warner Cable yesterday in hopes producing more content. The $60 billion bid comes to Time Warner as a surprise to Richard Parsons, CEO of Time Warner Cable. “This was out of the blue. This was not expected at all.” Google has proposed to buy Time Warner for 10 billion in cash, 45 billion in stocks and 5 billion in assumed debt.
According to Dr. Eric Schmidt, CEO and Chairman of Google Inc, “We've actually overpriced the Value in our stock.” When asked how this will help Google in the future, he responded by saying, “we don't have a top notch facility to produce content, time warner does,” which shows evidence of Google's desire to expand from a content contributer to a producer as well.
Yahoo and Microsoft were also interested in purchasing Time Warner, but their CEO's and representatives offered no comment on the issue.
4 comments:
you know, it amazes me how difficult it can really be to get information out so quickly! you have done a good job of getting out the facts. I will be excited to read your revised version of this story:)
Good job. I thought the quotes you included really added to the credibility of your story. I like it.
I thought you did a really good job keeping it concise but still getting all the key information out. Good Job!
You did a really great job for us being so rushed in class to finish it!
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