Time announced a merger plan with Warner in 1989 to expand into cable TV and video programming. Paramount then launched a hostile cash takeover bid for Time at $175 per share. Time's board had to decide whether to accept Paramount's offer or proceed with the Warner merger. The board chose to go ahead with the Warner merger because it was a better strategic fit, allowing Time to strengthen its cable and entertainment businesses and reach globally through Warner's assets and distribution capabilities. However, integrating the two culturally different companies posed challenges.

1. Presented by Debi Prasad Bagria Kishor Chandwani Nandini Mudgil Mrinmoy Kanti Das Rahul Agarwal Ritesh Kumar Singh

5. Refer Page-2 & Exhibit - 2

6. Refer Exhibit - 2 1984-85 1985-86 1986-87 1987-88 Magazines 12% 6% 3% 8% Books 12% 20% 44% -7% Cable TV programming 6% 13% 2% 16% Local Cable TV franchisees 15% 9% 12% 14%

13. Lacked Local Cable Franchise Assets

15. Lacked Cable TV franchise assets

28. Source-Exhibit-4

30. Thanks