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The first was in 1989 when Time-Life, a print media company, merged with Warner Communications, an entertainment company with interests in movies and music. This was subsequently followed up with the merger of Turner Broadcasting Systems, Ted Turner's Atlanta based company with cable properties like TNT and CNN. These two mergers had created a powerful, vertically and horizontally integrated media company but still, something was missing.
Beginning with the Netscape IPO in ?95, the fervor over Internet companies had crescendoed into an earsplitting roar. The Internet had rapidly penetrated into American homes and it didn't seem like it would be long before it would be the dominant medium for communications and entertainment...
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