ad info




CNN.com
 MAIN PAGE
 WORLD
 U.S.
 LOCAL
 POLITICS
 WEATHER
 BUSINESS
 SPORTS
 TECHNOLOGY
 SPACE
 HEALTH
 ENTERTAINMENT
 BOOKS
 TRAVEL
 FOOD
 ARTS & STYLE
 NATURE
 IN-DEPTH
 ANALYSIS
 myCNN

 Headline News brief
 news quiz
 daily almanac

  MULTIMEDIA:
 video
 video archive
 audio
 multimedia showcase
 more services

  E-MAIL:
Subscribe to one of our news e-mail lists.
Enter your address:
Or:
Get a free e-mail account

 DISCUSSION:
 message boards
 chat
 feedback

  CNN WEB SITES:
CNN Websites
 AsiaNow
 En Español
 Em Português
 Svenska
 Norge
 Danmark
 Italian

 FASTER ACCESS:
 europe
 japan

 TIME INC. SITES:
 CNN NETWORKS:
Networks image
 more networks
 transcripts

 SITE INFO:
 help
 contents
 search
 ad info
 jobs

 WEB SERVICES:

  Transcripts

Special Event

Time Warner Head Gerald Levin Testifies on Merger With AOL Before Senate Judiciary Committee

Aired February 29, 2000 - 1:46 p.m. ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

SUSAN LISOVICZ, CNN ANCHOR: The Senate Judiciary Committee is holding hearings at this hour on the proposed merger of America Online and Time Warner, the parent company of this network. Some on Capitol Hill had expressed concern about the market power of the combined company. Let's listen in.

(JOINED IN PROGRESS)

GERALD LEVIN, CHAIRMAN AND CEO, TIME WARNER: ... opportunity to speak to you about the planned merger of Time Warner and AOL, and obviously both of us will be happy to answer your questions.

I know our merger announcement came as a surprise to many, and the truth is, for such a large transaction, it was worked out in a remarkably-short period of time. Even more remarkable, while I'm sure such challenges don't exist here in Washington, we avoided any leaks.

And from my perspective, the AOL-Time Warner merger was not a bolt from the blue but actually the fulfillment of almost three decades in the media business, because I began my career with the quixotic hope, or so it seemed at the time, of using cable television to overthrow the stranglehold the broadcast triopolopy had on television. When you add mavericks like Ted Turner, as well as myself, we believe that the real power of television would only be unleashed when it become a medium driven by consumer choice with programing alternatives that went far beyond what simply three advertising-supported networks could deliver.

And the success of that once-radical notion, I think, is reflected in today's premier pay television networks, like Home Box Office, and the lineup of services that we have on our cable systems of hugely-popular networks, such as CNN, Disney -- I'll repeat that -- Disney, Discovery, ESPN, Nickelodeon, CNBC; obviously, the list is very long.

And although we never claimed that this early experience with cable gave us a clairvoyant glimpse of the Internet, it was in fact profoundly formative for us because we were left with the conviction that we barely touched the potential of technology to empower viewers to become their own programmers with no limits, no limits on their options, possessed...

LISOVICZ: You've been listening to Gerald Levin, the chairman and CEO of Time Warner, the parent company of this network, testifying before the Senate Judiciary Committee about the proposed merger between Time Warner and American Online.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com

  ArrowCLICK HERE FOR TODAY'S TOPICS AND GUESTS
ArrowCLICK HERE FOR CNN PROGRAM SCHEDULES
SEARCH CNN.com
Enter keyword(s)   go    help

Back to the top   © 2001 Cable News Network. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines.