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Download Ebook There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest For the Digital Future

Download Ebook There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest For the Digital Future

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There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest For the Digital Future

There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest For the Digital Future


There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest For the Digital Future


Download Ebook There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest For the Digital Future

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There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest For the Digital Future

Product details

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Audible Audiobook

Listening Length: 12 hours and 18 minutes

Program Type: Audiobook

Version: Unabridged

Publisher: Books on Tape

Audible.com Release Date: October 31, 2003

Whispersync for Voice: Ready

Language: English, English

ASIN: B0000X8R6G

Amazon Best Sellers Rank:

This is a witty, gossipy book that is a fun read about a very unfunny merger between the Internet bad boy AOL and the venerable Time-Warner entertainment conglomerate. Unfortunately it is also terminally superficial. As has often been observed more can often be learned from failures than successes. So one would have hoped for a little substance in this book than Swisher was apparently willing to deliver. In part this may show how journalism has changed over the years.In 1971 two reporters wrote of the failed 1968 merger of the Pennsylvania and New York Central Railways (Duaghen/Binzen, "The Wreck of the Penn Central"). In this book a good deal of detail was provided on how borderline criminal financial operations, lack of detailed operational planning, and a massive failure of management caused the merger to fail almost before it began. Because of the detail provided in this book it to this day can be a guide not only for mergers, but for any type of major reorganization.In Swisher's book one learns only that the AOL-Time Warner merger failed because a lot of superheated egos were unable to cope with crash of AOL stock when the `dotcom' bubble burst. There surely is more to the story than this. This reader would have liked to have read more about the issue of AOL acquiring access to Time-Warner's broadband cable assists and the whole problem using AOL resources for delivery of Time-Warner content. What serious thought and planning actually did either side of this merger actually do other than looking for a quarterly stock jump. If that is all they did that would be worth noting as well. Business reporting ought to be more than gossip about the personalities involved in any venture that is what "People Magazine" is for.

Much of Kara Swisher's lively chronicle of the biggest media merger in history is focused on two visionary company leaders: AOL's Steve Case, who made the company into the 800-pound gorilla of cyberspace but could never seem to turn that power into genuine respect; and Time Warner's Gerald Levin, whose efforts to take the venerable media company into a Net-based future met with one failure after another (FSN, Pathfinder). In theory, the merger should have given both partners what they wanted. So what went wrong? Swisher counts the ways, from bad timing (the tech boom of the late 90's was already starting to wane when the merger was first announced) to tumultuous ego clashes between the "young turks" of AOL and the feudalistic "old school" hierarchy of Time Warner. And then, of course, there's the money. Swisher details AOL's "creative" accounting practices, Time Warner's less-than-diligent due diligence (possibly a product of Levin's determination to make the merger happen, no matter what), and the desire on both sides to create a "synergy" of old and new media, with no clear idea on how to make it happen. Synergy was AOL-Time Warner's Holy Grail, all-important but ever-elusive, and when the company failed to get it, the stock price tumbled. Swisher's prose style is accessible and informative. When she offers personal anecdotes or opinions, they are never intrusive or self-important; instead, they add dimension and context to the narrative, fleshing out the how-high-can-we-go? headiness of the late 1990's. My only complaints are minor ones. First, I wish the book contained a "cast list" of the major players for quick reference; when the surnames start flying around (Pittman, Parsons, Colburn, Crawford), it would have been nice to have a reminder of what positions each person held. Also, and this is no fault of Swisher's, the book went to press before the ideal ending could be included: the decision to drop AOL from the company name. (In fairness, Swisher did predict the name change would happen, and she expected it sooner rather than later. Perhaps the paperback edition will feature an extended coda.) When the merger was first announced, Ted Turner, a major stockholder and Warner board member, compared the experience to "that night when [he] first made love some forty-two years ago." By the end of There Must Be a Pony, readers may have much earthier metaphors in mind.

I would get this book prior to any trip...it is well-written with an irreverent, breezy style and an eye to the clever phrase or interesting anecdote. It is fun to read. The author, Kara Swisher, not only chronicles the AOL-Time Warner transaction but also provides interesting perspective on the late 90's and early 00's. One could ask why my comments and why this particular book? The book has value in that the author lived through this period, understood the genesis of the acquiring company, AOL, and importantly, was a keen observer of Time Warner (including its key players, Jerry Levin and Ted Turner among others) and the transaction that took place. To give you a sense of her style and perspective, she describes the merger as " a company without any assets acquiring a company without a clue."What makes the book worthwhile is the author, her style and most importantly, the relationships she established with almost all of the main players. She had extraordinary access to them over time and they were comfortable enough with her to provide their own perspectives in something other than a self serving manner. There are no heroes only fools, some more gullible than others.Buy it, you'll enjoy it and you will remember to look for Kara Swisher's by-line when you next read the Wall Street Journal.

Swisher is a remarkable writer. She is able to capture the personalities, hubris, technological hype, and all the other elements that went into one of the worst merger deals in history. She has a remarkable ability to capture both the substance of the deal points, how both entities came to the position that they did and yet offer larger lessons on corporate America. The book is entertaining and instructive. It would be a great read if you are interested in any of the following topics - the internet bubble, corporate egos, corporate finance, the new versus the old media or if you simply want to read a very entertaining book.

Excellent clarification of rich getting richer

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