| mollybh on 12 Jan 2001 01:36:25 -0000 |
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| [Nettime-bold] AOL-Time-Warner Deal |
Thursday, Jan. 11, 2001
FCC Approves AOL-Time Warner Deal
WASHINGTON (Reuters) - Internet giant America Online Inc. on Thursday cleared the
last regulatory hurdle to acquire Time Warner Inc., winning
conditional approval from the Federal Communications Commission to create
the world's biggest media company.Exactly a year and a day after the companies
announced their historic marriage of old and new media, the five-member FCC
agreed to let AOL and Time Warner go forward provided the companies open up AOL's
instant messaging service when used across Time Warner's cable lines.
The companies also must not restrict consumers from using a different
Internet service provider than AOL's service, the FCC said. The agency also
said it will not impose conditions on AOL Time Warner relating to interactive
television but will instead hold a broad inquiry into the emerging technology.
The FCC approval, after months of internal discussion at the agency, allows
the world's biggest Internet services provider to close its $106.2 billion
purchase of the media and cable conglomerate to create an unparalleled
company spanning television programming, movies, magazines and
cyberspace.
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