Henry Blodgett reports that there is an article in the Walled Street Times (which I can’t read because I’m not going to pay for it) about Time Warner and it’s out of favor stepchild, AOL. It seems that Time Warner has decided that all of that synergy that was going to be realized upon the marriage of Time Warner and AOL isn’t going to come to pass after all.
In fact, Time Warner’s president calls the synergy concept “bullshit.” That’s pretty much how I feel whenever I hear one of those fancy words that mean let’s do this even though there’s no demonstrable benefit to be gained.
Henry sums up this ill-fated deal beautifully:
“Perhaps synergy is, in fact, bullshit–perhaps the merger was doomed from the moment it popped into Steve Case and Jerry Levin’s bubble-addled heads.”
AOL is like the oldies concert circuit- there’s my former hero up there on stage, but man he looks old and I can’t believe he’s come to this.