Friday, March 21, 2008

EXTRA Practice News Story 8: Buisness

Google Makes Hostile Takeover Bid for Time Warner

SAN JOSE, Cali.— Google Inc. (GOOG) made a hostile takeover bid involving the purchas of Time Warner Inc. (TWX) for $50 billion dollars. This bid has not been accepted yet.

Google CEO Dr. Eric Schmidt said “Google strikes while the iron is hot, and the iron is hot right now in the media industry. This is the correct move at the correct time for Google.”

Yahoo Inc. (YHOO) and Microsoft Inc. (MSFT) CEOs are discontent. Yahoo wanted to be bought by Time Warner while Microsoft was hoping to buy Time Warner. Negotiations and offers between the four companies will be held.

The offer that has been placed is $35 billion in cash, $10 billion in stocks, and $5 billion in assumed debt which Google would pay off.

1 comment:

usumatty said...

Your story is short and sweet, but i cant think of anything that it is missing, it looks good to me. I cant exactly figure out how to do the ticker thing, so i might have to write my second story without it. But your story is well written. If i could recommend one thing, i would say explain in more detail what a "hostile takeover bid" is. I know that our audience would probably know, but maybe somebody wouldn't? But i might be wrong, anyway your story was good, good job, see you in class.