Content is nice, but cable—the way we may be surfing the Net down the road—is nicer. And oh, by the way, a lot of folks are about to get very, very rich. The more high-flown the rhetoric surrounding a deal, the more suspicious we should be. I'm speaking, of course, about America Online's stunning takeover of Time Warner. This is being hailed endlessly as a visionary deal designed to launch a whole new era by combining AOL's Internet reach with Time Warner's old-line television, movie and magazine businesses. But it sure looks to me like this deal isn't about "content" or getting more people to read magazines.
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