Before the merger was announced last February, AOL's stock price was $73 per share and Time Warner's was $64.
A month later, Time Warner's stock price rose to $81, while AOL's stock price dropped to $58. Since then, AOL's stock price has continued to decline.
When the merger between the two parties was completed in January this year, the share price of the newly born AOL-Time Warner has been hovering between 39 and 45 US dollars. After the famous attack in the United States in September, other shares of the new company
The stock price suddenly fell to $34 and has not recovered since then.
"Mr. Li Wen, with all due respect," Peng Bo felt very much like Bao Feifan as soon as the words came out of his mouth, "I think AOL and Time Warner are not a "cooperation", and not only will they not have the "112" that the industry is looking forward to,
A win-win situation, but the negative effects of "112" will appear..."
Li Wen looked at Peng Bo. He didn't know whether this was Peng Bo's excuse for refusing to cooperate or Peng Bo's true thoughts. But when he got off the plane and got into the car, he heard these words, which affected his mood.
"You." He said two words briefly.
After the merger of the two major companies, AOL was eager to use its financial resources and reputation to flourish around the world, but the business was too big and the pace was too hasty. AOL also wanted to integrate Internet television and telephone services, but the result was too much investment and huge losses.
The new group originally wanted to use the cross-media advertising business as a "cash cow" and planned to combine traditional media businesses such as magazines, books, cable services, and animations with the new economic operating model of AOL's network services. However, it was later discovered that AOL was only acting as a
An online marketing machine for Time Warner's various products.
When facing external customers, the respective advertising departments of each media cannot cooperate from the overall perspective. They only fight for the interests of their own departments, which is inefficient. As a result, customers are unwilling to renew the contract when the contract expires, or significantly reduce the contract amount.
"Mr. Li Wen, there is also a corporate culture conflict."
AOL and Time Warner are a large-scale cross-cultural merger, a marriage of old and new media.
AOL is a representative of new media and a young Internet company. Its corporate culture focuses more on quickly seizing the market as its first goal. It is characterized by flexible operations and quick decision-making, and is good at innovation and dares to take risks.
As a traditional enterprise, Time Warner has accumulated a profound cultural heritage of traditional media during its long-term development process, has a respected integrity and the ability to accurately grasp market demand.
But the reality is that AOL has dragged down the performance of the entire company, but it still occupies a dominant position in the company. AOL is even listed first in the company name, which makes Warner's old employees feel somewhat unwilling.
AOL employees, on the other hand, believe that products created by Time Warner Cable, Music Group and others are just "traditional feed" for an advanced and rapidly growing network.
The two conflicting concepts manifested themselves in the form of confrontation. Time Warner employees could not stand the bohemian IT style of their colleagues at AOL, and AOL employees also looked down upon the rigid and conservative style of their colleagues at Time Warner.
That is, after a bold "experiment", both parties discovered that this was not a mixture of two different colors of water, but a mixture of oil and water.
In other words, it's impossible to mix at all.
Moreover, there is one point that Peng Bo did not mention, but Li Wen knew very well that the opposition and the struggle for control between the two camps have seriously affected the group's internal decision-making, making it difficult for the group to adjust and integrate its business strategies and business models in a timely and effective manner.
and cultural integration, which further worsened performance and intensified confrontation...
"Oh." Li Wen finally spoke, but he only uttered one modal particle and no more words. Peng Bo also had no words. He was waiting for Li Wen's response. This can also be seen as his response to Li Wen's proposal.
Response to the cooperation between Warner and Pengbo Media.
"Donald, I want to report to the board of directors." Li Wen suddenly grabbed Peng Bo's arm. "I think you should report to the board of directors. I didn't expect that you are very accurate about the crux of the new company. This is also what I hope to do."
Spitman has been thinking about..."
Oh, Peng Bo is relieved. Don't mention cooperation now. Just don't mention it. If he refuses, he has also considered the serious consequences.
"Yes, just after the forum, you come back to the United States with me, and we will hold a special board meeting for you, just like we did in Shanghai two years ago," Li Wen suddenly laughed, thinking of that era
Warner's board of directors meeting in Shanghai specifically studied Peng Bo's position, "Donald, I wonder if you have considered working at the headquarters?"
Headquarters?
A spark suddenly flashed in Peng Bo's mind.
He is weighing the fact that although he can observe the operations of international media giants more closely, he still has his own company.
"I think I need to think about it carefully..."
"I need to think about it. I know this is sudden, but it is a good opportunity for you," Li Wen smiled. "There are many positions that are suitable for you. I also know that you are inseparable from here, but I have always been loyal to you."
If you are optimistic, I have some good news for you."
Oh, what good news? This shocked Peng Bo.
"Keith and I proposed that the company has purchased a villa in the United States for you." Li Wen smiled mysteriously.
As a reward for business in Greater China? It seems unreasonable.
"Also, you will also gain something from this forum..." Li Wen winked humorously.
Facing this old man, Peng Bo sighed for a moment.
At the end of this year, he will leave the company.
Not because of performance, but because of the attack.
That attack acted as a catalyst. Later, in an interview, Li Wen said that the incident gave him a deeper understanding of the fragility of life. The incident also reminded him of the 1997 death of his son Joe.
The extreme pain he felt after Nas was killed was the main reason for his decision to leave the business world.
Life is always unclear!
…
On May 8, Xiangjiang was bustling with prosperity.
In early summer, Xiangjiang International Airport is full of festive and cheerful atmosphere.
The Hong Kong Police Band played a welcome song, and more than 100 children and children enthusiastically waved national and regional flags to welcome the respected old man and his party.
Standing behind the gray-haired old man, Li Wen in front turned around from time to time to chat with Peng Bo.
On TV, salutes were fired and red flags were like a sea.
Phoenix TV's Liu Changle sat quietly in his office, watching the TV screen.
This time, there was no TV station in Xiangjiang to broadcast the on-site reception. Only Pengbo TV broadcast the entire event live. He could only turn on Pengbo TV and saw Yang Lan and Cui Yan in person...
The camera glanced at that young face from time to time. Today, he is a witness and participant of this wealth feast...