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News > Deals
AOL-Time Warner OK near?
January 10, 2001: 11:55 a.m. ET

Two FCC commissioners said to favor deal; approval could come soon
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NEW YORK (CNNfn) - The Federal Communications Commission is closer to giving the green light to America Online Inc.'s acquisition of Time Warner Inc., CNNfn has learned.

A source close to the deal, now valued at $99 billion based on AOL's Tuesday closing price of $42.85 a share, says the FCC may be nearing a vote and approval of the deal.

Two of the five commissioners are in favor of the merger and believe they may have some word as early as Wednesday afternoon or Thursday, the source said.

The AOL-Time Warner deal, announced a year ago on Jan. 10, 2000, originally was valued at about $164 billion, but has fallen with the price of AOL stock.

graphicEarlier, the Wall Street Journal, citing people familiar with the deliberations, reported that the FCC is close to an approval vote that will not include stringent restrictions on instant messaging.

However, the agency is expected to demand that AOL (AOL: Research, Estimates) begin opening instant-messaging services to rivals as it introduces new, advanced services such as video over instant-messaging channels, the paper said.

Approval of the deal had been delayed by infighting among the five-member commission's three Democrats over the issue, the paper said.

AOL shares rose 60 cents to $43.45 Wednesday morning, while shares of Time Warner (TWX: Research, Estimates), the parent of CNNfn, traded at $65.36, up 96 cents. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.