Abstract
In January of 2000, America Online (AOL) and Time Warner finalized the largest merger in American corporate history. It received final regulatory approval in December of 2000. AOL Time Warner brought together the big pipes of cable television that can carry vast Internet content and magazines, books, movies, music, and programming to send down those pipes. In May of 2000, Terra Networks, a Spanish Internet group, acquired Lycos, the fourth largest US Web portal. In December of 2000, Vivendi brought together a portal, a delivery system, and the world's biggest music company. Delivery of interactive, customized content by a few firms looked as though it might preempt most competitors through what the software world refers to as the network effect. Development of small numbers of single-source entertainment, information, and commerce promises to transform marketing.
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