Date: 21st December 2000
With less than two weeks remaining in the year, America Online and Time Warner told regulators on Wednesday that they will incur "substantial burden and expense" unless their proposed $102 billion merger is closed by year's end.
Some of the expense associated carrying the merger beyond Dec. 31 includes having to file more than 10,000 partial tax returns next year, AOL told the Federal Communications Commission. The FCC represents the final regulatory hurdle for the companies; the FTC signed off on the merger last week.
Source: Studio Briefing