In January 2000, AOL bought Time Warner for $183 billion in stock—the largest corporate acquisition ever. Initially, critics denounced the combination of these two powerhouses, and the merger turned out to be something of a business and financial disaster. Washington Post
reporter Klein begins his account around 1980, with AOL's predecessor companies. The merger doesn't even occur until the book's fourth quarter. Klein tells the story mainly through sketches of AOL executives and other employees. This emphasis on character over plot gives a feel for what it was like to work at or with AOL and insight into its often unconventional corporate actions. However, at times, it's like listening only to the color commentary of a radio baseball game, without hearing the play-by-play. Klein has a flair for making his characters come alive through details like descriptions of their outfits and speech mannerisms. These images are entertaining, especially when they concern AOL's flamboyant and often crude deal makers, guys who close sales by stabbing a steak knife into the dinner table and commandeer corporate jets for cross-country excursions to topless bars. Alas, the vivid images are less effective for introverts like AOL chairman Steve Case and Time Warner CEO Jerry Levine. It's understandably difficult to get people to criticize their influential bosses on the record, but Klein sometimes relies too much on sensational dirt from anonymous sources. This is an entertaining account for readers who either already know or don't care about the names-and-dates version of this landmark case. Agent, Esther Newberg. (July 1)
Forecast:A first serial in the
Washington Post
Sunday Magazine on June 15 should stir up some interest in this title.
