On January 10, 2000 (December 4, 1999, the lunar calendar), AOL married Time Warner. On January 10, 2000, AOL and Time Warner merged to form "AOL-Time Warner". This is a huge Internet and media industry group. Such important news immediately became headlines on American television, radio and the Internet. American public opinion said,"This is a milestone in the Internet age" and "may be the most significant event in the development of the Internet world so far." According to reports, in October 1999, AOL President Keith first made suggestions to Time Warner. After a series of bargaining, the leaders of the two sides held a five-hour secret meeting on the 6th, and finally reached a compromise and finalized the deal. The merged new company is 55% controlled by AOL and 45% controlled by Time Warner. Case is the president of the new company and the CEO is controlled by Time Warner boss Levin. The value of the new company will reach US$350 billion, equivalent to the GDP of Mexico and Pakistan. Such a huge merger case is really shocking. AOL is now the world's largest Internet service provider, with 22 million users. Its AOL Service Network, Computer Services, Netscape Network Center, Digital City, ICQ, Movie Network, etc. have become "hot" websites on the Internet; Time Warner is the largest media company. Its CNN, Time Magazine, Fortune Magazine, Warner Pictures, Warner Music Group, etc. are all well-known players, especially the vast number of cable TV networks, which account for 20% of American home users, second only to AT & T. Once the two powers merge, they will create an unprecedented "media giant" that not only has the functions of traditional media, but also has the advantages of new online media, and its "future capabilities are endless." The American media community believes that this merger reflects three major characteristics. First, there has been a "major turning point" in the world media industry. Ten years ago, Time Corporation relied on its accumulated strength over the past 70 years to merge with Warner Corporation and form the world's largest traditional media group. I never imagined that on the same day 10 years later, I would merge with AOL, which has only a 15-year-old history. It can be said that "this time, this time." Second, the "marriage of new and old media" marks the development prospects of the world media industry. AOL is a prominent representative of the rapid development of Internet companies in recent years, but "narrowband transmission" through telephone lines and modems is far from meeting the requirements of the Internet society. Time Warner is the "boss" among traditional media, integrating movies, music, television and magazines. In particular, the huge cable TV network has the high-speed function of "broadband transmission". The combination of the two is just a good way to complement each other's needs and learn from each other's strengths. AOL boss Keith excitedly claimed that "this merger will start the next generation of Internet revolution." Third, this is just the beginning of the "vertical and horizontal" alliance of the American media industry. Not long ago, Wiacom's merger with Colombia Radio Network caused a stir;MCI World Communications's acquisition of Sprint for US$11.5 billion was even more lively. Now, it seems that these deals are just a "piece of cake". Some experts predict that although AOL and Time Warner have taken a step forward, other media companies will not fail to take action. Microsoft, Yahoo and AT & T are likely to do something surprising. There were mixed reactions from all walks of life in the United States to the measures taken by AOL and Time Warner. The two companies involved were most happy. They called the merger the beginning of the "Internet Century" in the United States and the world, and "a historic moment for the real arrival of new media." Stock analysts also enthusiastically cheered, saying this was an "outstanding business operation." For this reason, the U.S. Dow and Nasdaq Composite Index surged sharply on the 10th. But opponents believe that such a huge merger "limits competition, reduces choice, and causes harm to consumers." Some antitrust experts said,"This is a replica of controlling railways in the early 1920s, and more importantly, it is about controlling the central nervous system of our democratic system." Of course, whether AOL and Time Warner can be finally formed will still have two hurdles. The first is to obtain the approval of shareholders of the two companies, and the decision is expected to be known by the end of this year; the second is to obtain the approval of the U.S. government. It is still unknown whether the merger of the two powers will withstand antitrust review by the Department of Justice or the Federal Trade Commission.