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Circa 2000: AOL, Time Warner to Merge

Posted by John Cooper on May 28, 2009

Article Link: Wired.com

Article Author: Declan McCullagh

Article Date: 10-Jan-00

From the Article:

The move has already drawn a rush of investors to the companies on Monday, both of which have seen their stock languish in recent months. Time Warner, which closed Friday at 64 3/4, had not managed to best its 52-week high of 78 5/8 from last spring, and AOL’s closing price of 73 3/4 is about 10 points lower than its May 1999 value.

That’s already changing. Time Warner shares catapulted $30 to $95 in pre-open trade on Monday morning, while America Online jumped $13 to $85.875. The enthusiasm spurred shares of media stocks higher across Europe and sent the combined market capitalization of both companies higher by some $10 billion.

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