Georgia Tech to Merge with AOL Time Warner

ATLANTA (April 1, 2001) -- Georgia Institute of Technology and AOL Time Warner (AOLTW) announce today a stock buyout that will make Georgia Tech part of the AOLTW's new Education and Entertainment Division. Pending FCC and ACC approval, starting June 1, 2001, Georgia Institute of Technology will become a wholly owned subsidiary of AOL Time Warner. The new institution will continue to focus on engineering and technical studies, with a renewed emphasis on Internet technologies.

According to AOL Time Warner spokesperson Greg P. Bondon, Tech was an obvious choice for the expanding AOL TW corporation.

"We have been in the market for a high caliber institution for some time. After Georgia Tech failed to meet it's Q4 earnings estimates, their stock price dropped to a point where they couldn't turn down our offer. We made the proposal last Friday and when I logged into my email Monday morning, my computer said 'You've Got Tech!' "

More changes in store
As part of the deal, Georgia Institute of Technology will officially change it's name to Georgia-Tech.com, in order to further emphasize the new institution's Internet ties. In addition, the Georgia Tech campus network will be managed by AOL and all faculty, staff and students will be given an introductory AOL membership offer that includes 50 free hours.

Still up in the air is the fate of existing Georgia Tech icons, such as the campus mascot, Buzz, and the beloved "Rambling Wreck" automobile. Analysts are speculating tie-ins with other AOLTW divisions, perhaps leveraging AOLTW's Cartoon Network to create a Saturday morning cartoon featuring "AOL Time Warner Georgia-Tech.com's Buzz". Inside sources also report a plan to rename Tech's sports franchises from the "Georgia Tech Yellow Jackets" to the "AOL Time Warner Georgia-Tech.com Wile E. Coyotes."

Rumors of Future Mergers Unfounded
Bondon also took the chance to dispell widely circulated rumors that the deal with Georgia Tech is a prelude to a larger merger, stating "I'm unaware of any current plans to increase our acquisitions."

Yet, according to Earnest and Yung market expert, Joshua Goodman, Bondon's statements haven't quieted the merger rumor mill -- "The strongest rumor going around currently is a proposed six-way merger involving AOL Time Warner, Powertel, Real Networks, Intel, LoJack, and 1-800-FLOWERS."

Other Colleges Shopping
Analysts see the merger as an indication of things to come. R. J. Murphy, an industry consultant for APRF in Atlanta, GA, is predicting several other educational institutions will soon enter into mergers with large corporations. An optimistic Murphy mused, "I wouldn't be surprised to see a Kentucky Fried Kennesaw State or a McEmory announced soon. Nor would I be shocked to see a Victoria's Secret Agnes Scott or even a Pepsi-Cola UGA. Eventually all universities will sell out; it's just a matter of time."