They Do Ring a Bell

by Karl Denninger

So AOL, er, Time Warner is being bought by AT&T eh?

Hmmm…. I find this amusing.

I call Time Warner AOL on purpose, because the AOL/TW deal was not only one of the worst corporate deals ever made in terms of destruction of shareholder value it also almost top-ticked the market back during the Internet bubble.

The most amusing part of it is that the argument then was the same as the argument now — Time Warner and AOL combined because it was a “better way to distribute things”, including advertising.

AT&T is buying Time Warner because….. they think they are the “better way” to distribute things, including advertising.

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