Posted 10:10 a.m. MT October 31, 2007
Palo Alto, California- Today Google Inc. (GOOG) made a hostile takeover bid of $60 billion to purchase Time Warner Inc. (TMX) Dr. Eric Schmidt, CEO and chairman of Google, explained that his company is trying to move more into content distribution and he thinks that buying out Time Warner will do that for his company. Richard D. Parsons, CEO of Time Warner, says they haven't met with the board yet to even discuss a buyout, they have talked about a possible merger, but this will not be a quick decision to make. Industry analyst Paul Kim says that it would be foolish of Time Warner not to accept the bid.
Wednesday, October 31, 2007
Practice News Story 8: Business
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2 comments:
For the time that we had to write this, it is written very well. I don't know if I just got to this one before you wrote the extra news story, but as of right now there are just a couple AP mistakes. like we were suppose to put (GOOG) for Google and (TWX) for Time Warner just after we mentioned those two companies.
Good job at getting all of the important info out first. We usually don't have a lot of time to get these posted, but you did a good job. I'd like to read your revised version.
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