Time Warner

“So by 1994, Disney's market cap hits twenty two billion dollars, up 10 X from when the Eisner crew took over, and it becomes the highest valued Of all the traditional media companies, more valuable than Time Warner, more valuable than Viacom, more valuable tha…”

“Steve Case approached him before Time Warner about an AOL Disney combination.”

“And we basically rode Tiger Woods and Phil Mickelson that rivalry to a twenty-five million dollar sale to Time Warner”

“And he said, listen, whenever I do a deal with somebody, I always just leave a little bit extra on the table. Cause you never know when you're going to come back. I want to do another deal with them. And like, you know, the internet is filled with Here's how d…”

“He claims to be, and many people, including the New York Times, claim that he was the largest shareholder in Time Warner. He was a very large shareholder in Goldman Sachs, so he, like, runs in all these amazing circles.”

“He's going to sell the company to Time Warner for eight billion dollars. And then a few years later, Time Warner is going to merge with AOL. Ted Turner stock goes up to a value of ten billion dollars, and then he winds up losing over the next 30 months, eight …”

“I really think the most important, most prominent instinct, natural instinct and founder and entrepreneurial types is the control and conquer instinct. I think What we think we want money or prestige or status, but I really think what we actually want is contr…”

“And ultimately, we came to a conclusion that we were very able to pay two billion dollars, because those media rights were effectively an investment grade bond, because you're going to get the offtake from an example, CBS, Fox, Time Warner, all of those partie…”

“We were the first internet company to go public in the 1992. We raised ten million dollars in our IPO. The market value that day was seventy million dollars. And seven, eight years later, when we were negotiating the merger with Time Warner, it had gone from s…”

“It was more about trying to get the distribution, which ultimately was the Achilles heel and why it didn't work. And because we had to go to like Comcast and Time Warner and Charter and these big organizations that are cable networks that host all the channels…”

“Jeff Bucus, who runs Time Warner, who's, you know, Stanford MBA, he's been in the business, ran HBO for 20 years, you know, a very thoughtful guy, and yet he missed the Netflix thing. And what happens to people is they associate you as you are, not as what you…”

“I think for us, it's definitely both. So we need to make money. You know, we want to be competitive with VC returns and make money for our shareholders and our company. But the strategic piece for us is equally important. So it's sort of a fifty-fifty.”

“We went from our company when we did the merge, I think it was five billion of revenue, about one billion of profit. The combined company had forty billion of revenue, ten billion of profit.”

“I always believe, still believe, the idea of the merger made sense. I think it really was the execution, particularly around people and culture, where things got rocky, and I was very frustrated that the company wasn't able to achieve the kind of vision that I…”

“Time Warner is a big company. It's in essence a holding company. Most people don't realize that, but it's, you know, the corporate entity is, is fairly thin, and it's mostly inhabited by lawyers and accountants, the corporate headquarters, and all of the sort …”

“They are not a technology company, and they've really struggled, you know, over the years to understand how they interface with new forms of distribution, new technology, and how they integrate that both into their business to make their business run better, b…”