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October 31, 2007

Practice News Story 8: Business

10:15 a.m. MT Oct. 31, 2007

Google makes $60 billion bid to purchase Time Warner

PALO ALTO, CA --Google Inc. has offered Time Warner Inc. $60 billion in a hostile take over bid that would provide Google with the content distributing potential the company has long desired. "We want to be known as a content provider," said Google CEO and chairman Dr. Eric Schmidt. "We've got the cash on hand to be able to do this."

A breakdown of the offer shows that Google is willing to give up $45 billion in stock, accept $5 billion in assumed debt, and give $10 billion in cash in order to purchase the company. Industry analyst Paul Kim said, "I think Time Warner would be foollish not to accept (the offer)."

Richard Parsons, CEO of Time Warner, voiced his surprise at the bid, saying, "We've been in conversations with other companies about mergers ... (but) this was out of the blue." Parsons also mentioned that Time Warner would require one or two months before coming to a decision.


  1. I am totally impressed that you were able to write such a good article with the limited time we had. I'm excited to read the second version of this! Good job

  2. Good job putting all the information in there and good organization. The only thing that didn't really make sense is where you wrote Google was willing to give up $45 billion in stock, maybe for stock would sound better, but that's kind of picky, I thought it was a good story still.

  3. Job well done. Foolish only has one l in it. You got the main point across...I would have maybe left the break down of the bid toward the end of the article and not the middle.

  4. Hey Uruguayan Lion I think you did a very good job in this one. It got the key info out there, and I think it fit the inverted pyramid very well. It made everything sound very simple

  5. I am impressed that you wrote this so well with such little time we had in class. The story really was nicely put together.