AOL Time Warner - Rare Blue Type - 2000 dated Specimen Stock Certificate
Inv# SE3534 Specimen Stock
Massachusetts
New York
Specimen Stock Certificate printed by American Bank Note Company.
In January 2000, America Online (AOL) announced its intention to acquire Time Warner for $183 billion. Given AOL’s superior market capitalization, its shareholders would hold a 55% stake in the newly formed entity, while Time Warner shareholders would retain only a 45%. Consequently, in practice, AOL had merged with Time Warner, despite Time Warner possessing significantly greater assets and revenues.
Time Warner sought to embrace the digital revolution, while AOL aimed to stabilize its stock price through the acquisition of more tangible assets. The merger, formally filed on February 11, 2000, employed a structure where each original company merged into a newly established entity. The Federal Trade Commission (FTC) approved the deal on December 14, 2000, and granted final approval on January 11, 2001, coinciding with the completion of the merger. The Federal Communications Commission (FCC) also approved the deal on the same day, and the European Commission had previously cleared the transaction on October 11, 2000.
AOL Time Warner Inc., the company’s subsequent name, was intended to be a merger of equals, with top executives from both organizations collaborating. Gerald Levin, who had served as chairman and chief executive officer (CEO) of Time Warner, assumed the role of CEO in the new company. Steve Case, a co-founder of AOL, became Executive Chairman of the board of directors. Robert W. Pittman, president and chief operating officer (COO) of AOL, and Dick Parsons, president of Time Warner, served as Co-Chief Operating Officers. J. Michael Kelly, the chief financial officer (CFO) of AOL, assumed the position of chief financial officer in the merged entity. According to Bob Pittman, President and COO of AOL, the sluggish Time Warner would now accelerate to Internet speed, propelled by AOL’s influence. Pittman asserted, “All that is required is a catalyst to [Time Warner], and within a short span, its growth rate can be significantly altered. The growth rate will resemble that of an Internet company.” Time Warner’s future vision appeared clear and straightforward: by partnering with AOL, Time Warner would penetrate the homes of tens of millions of new customers. AOL would utilize Time Warner’s high-speed cable lines to distribute to its subscribers Time Warner’s branded publications, literary works, musical compositions, and cinematic offerings. This collaboration would establish 130 million subscription relationships.
Stock and Bond Specimens are made and usually retained by a printer as a record of the contract with a client, generally with manuscript contract notes such as the quantity printed. Specimens are sometimes produced for use by the printing company's sales team as examples of the firms products. These are usually marked "Specimen" and have no serial numbers.
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