Time Warner Inc. (TWX) opened at 16.87. So far the stock has hit a low of 16.81 and a high of 16.87. TWX is now trading at 16.83, down 0.01 (-0.06%). After hitting a one-year high of 19 in September, the stock has held steady over the past eight months.
Most diversified media stocks were down in yesterday's market. The exception, of course, was Warner Music and EMI, which were up yesterday. Currently, these two media companies are preparing to discuss a possible merger, which would make for a formidable combined competitor in the domination of the media market.
The possibility of this merger makes me worry about the fate of smaller independent labels.
Just think what might happen when the brains behind Phil Collins, who is on Warner's Atlantic Records, is also the brains behind David Bowie, currently on EMI records. Does the merging of "I Can't Dance" and "Let's Dance" hold the secret to cold fusion?
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