in these cases one plus one almost equaled zero welcome to watchmojo.com
equaled zero welcome to watchmojo.com
equaled zero welcome to watchmojo.com and today we’re counting down our picks
and today we’re counting down our picks
and today we’re counting down our picks for the top 10 most disastrous mergers
for the top 10 most disastrous mergers
for the top 10 most disastrous mergers in business history I did it with as
in business history I did it with as
in business history I did it with as much or more excitement enthusiasm as I
much or more excitement enthusiasm as I
much or more excitement enthusiasm as I did on that night when I first made love
did on that night when I first made love
did on that night when I first made love some 42 years ago for this list we only
some 42 years ago for this list we only
some 42 years ago for this list we only considered mergers where the two parties
considered mergers where the two parties
considered mergers where the two parties were more or less of equal size or where
were more or less of equal size or where
were more or less of equal size or where the deal was at least billed as a merger
the deal was at least billed as a merger
the deal was at least billed as a merger of rough equals that means we excluded
of rough equals that means we excluded
of rough equals that means we excluded acquisitions we’re a much larger company
acquisitions we’re a much larger company
acquisitions we’re a much larger company acquired a smaller company number ten
acquired a smaller company number ten
acquired a smaller company number ten excite and @home with their shared VC
excite and @home with their shared VC
excite and @home with their shared VC firm kleiner perkins concern about
firm kleiner perkins concern about
firm kleiner perkins concern about increasing competition the high-speed
increasing competition the high-speed
increasing competition the high-speed cable internet services of the at home
cable internet services of the at home
cable internet services of the at home network were combined with excites
network were combined with excites
network were combined with excites popular search engine in the hopes of
popular search engine in the hopes of
popular search engine in the hopes of attracting millions of subscribers the
attracting millions of subscribers the
attracting millions of subscribers the resulting six point seven billion dollar
resulting six point seven billion dollar
resulting six point seven billion dollar excited home deal was one of history’s
excited home deal was one of history’s
excited home deal was one of history’s biggest mergers involving two internet
biggest mergers involving two internet
biggest mergers involving two internet companies but the Nasdaq systemic
companies but the Nasdaq systemic
companies but the Nasdaq systemic meltdown and the culture clash between
meltdown and the culture clash between
meltdown and the culture clash between excites dot-com bubble and at homes more
excites dot-com bubble and at homes more
excites dot-com bubble and at homes more corporate and conservative cable
corporate and conservative cable
corporate and conservative cable business ultimately led to its demise
business ultimately led to its demise
business ultimately led to its demise number nine New York Central and
number nine New York Central and
number nine New York Central and Pennsylvania railroads this unlikely
Pennsylvania railroads this unlikely
Pennsylvania railroads this unlikely merger of two rival railroad companies
merger of two rival railroad companies
merger of two rival railroad companies was their attempt to remain relevant
was their attempt to remain relevant
was their attempt to remain relevant alongside the booming auto industry
alongside the booming auto industry
alongside the booming auto industry though Penn Central became one of the
though Penn Central became one of the
though Penn Central became one of the United States biggest corporations the
United States biggest corporations the
United States biggest corporations the company couldn’t survive inflation
company couldn’t survive inflation
company couldn’t survive inflation internal conflicts bad management and
internal conflicts bad management and
internal conflicts bad management and massive cost-cutting a promised 200
massive cost-cutting a promised 200
massive cost-cutting a promised 200 million dollar government loan never
million dollar government loan never
million dollar government loan never materialized and in 1970 Penn Central
materialized and in 1970 Penn Central
materialized and in 1970 Penn Central filed for the biggest corporate
filed for the biggest corporate
filed for the biggest corporate bankruptcy to that point number 8 Kmart
bankruptcy to that point number 8 Kmart
bankruptcy to that point number 8 Kmart and Sears it was businessman and
and Sears it was businessman and
and Sears it was businessman and investor Edward Lampert who united the
investor Edward Lampert who united the
investor Edward Lampert who united the struggling department store chain with
struggling department store chain with
struggling department store chain with the struggling discount store chain
the struggling discount store chain
the struggling discount store chain unfortunately both Sears and Kmart
unfortunately both Sears and Kmart
unfortunately both Sears and Kmart continued to fail as Sears Holdings it’s
continued to fail as Sears Holdings it’s
continued to fail as Sears Holdings it’s not that the retailer per se is weak but
not that the retailer per se is weak but
not that the retailer per se is weak but if you have the greatest store and it’s
if you have the greatest store and it’s
if you have the greatest store and it’s not here where the customers are that’s
not here where the customers are that’s
not here where the customers are that’s a problem with the subsequent recession
a problem with the subsequent recession
a problem with the subsequent recession and
and
and covering problems like poor investment
covering problems like poor investment
covering problems like poor investment and shrinking revenues to make matters
and shrinking revenues to make matters
and shrinking revenues to make matters worse the higher prices of the company’s
worse the higher prices of the company’s
worse the higher prices of the company’s goods increased its irrelevance against
goods increased its irrelevance against
goods increased its irrelevance against retail giants like Walmart number seven
retail giants like Walmart number seven
retail giants like Walmart number seven Alcatel and loosened to keep up with the
Alcatel and loosened to keep up with the
Alcatel and loosened to keep up with the ever growing telecommunications industry
ever growing telecommunications industry
ever growing telecommunications industry the networking technologies of American
the networking technologies of American
the networking technologies of American multinational Lucent were joined with
multinational Lucent were joined with
multinational Lucent were joined with French company
French company
French company Alcatel however the 13 billion
Alcatel however the 13 billion
Alcatel however the 13 billion dollar-plus deal did more damage than
dollar-plus deal did more damage than
dollar-plus deal did more damage than good as revenues decreased the two
good as revenues decreased the two
good as revenues decreased the two cultures found little common ground and
cultures found little common ground and
cultures found little common ground and few lasting solutions within a few years
few lasting solutions within a few years
few lasting solutions within a few years higher-ups at alcatel-lucent resigned
higher-ups at alcatel-lucent resigned
higher-ups at alcatel-lucent resigned losses totaled in the millions and the
losses totaled in the millions and the
losses totaled in the millions and the value of loosens Alcatel purchased
value of loosens Alcatel purchased
value of loosens Alcatel purchased assets plummeted
assets plummeted
assets plummeted we haven’t executed all elements in a
we haven’t executed all elements in a
we haven’t executed all elements in a way that I was hoping 2012 I misjudged
way that I was hoping 2012 I misjudged
way that I was hoping 2012 I misjudged I’ve said that for your camera a few
I’ve said that for your camera a few
I’ve said that for your camera a few times in the beginning I was too
times in the beginning I was too
times in the beginning I was too optimistic number 6 CBS and Viacom
optimistic number 6 CBS and Viacom
optimistic number 6 CBS and Viacom described by CNN as an attempt to make
described by CNN as an attempt to make
described by CNN as an attempt to make Dan Rather’s Network relevant to the MTV
Dan Rather’s Network relevant to the MTV
Dan Rather’s Network relevant to the MTV generation this merger instead caused
generation this merger instead caused
generation this merger instead caused stock prices to decline and executives
stock prices to decline and executives
stock prices to decline and executives to feud calling it a disaster is
to feud calling it a disaster is
to feud calling it a disaster is slightly unfair but considering the over
slightly unfair but considering the over
slightly unfair but considering the over 35 billion dollar deal between the
35 billion dollar deal between the
35 billion dollar deal between the entertainment conglomerate and the
entertainment conglomerate and the
entertainment conglomerate and the broadcaster was the largest in media at
broadcaster was the largest in media at
broadcaster was the largest in media at the time and that they split just a few
the time and that they split just a few
the time and that they split just a few years later well that’s all you need to
years later well that’s all you need to
years later well that’s all you need to know number 5 sprint and Nextel this
know number 5 sprint and Nextel this
know number 5 sprint and Nextel this merger of equals paired a
merger of equals paired a
merger of equals paired a telecommunications company with a
telecommunications company with a
telecommunications company with a wireless service provider for a mere 36
wireless service provider for a mere 36
wireless service provider for a mere 36 billion dollars however Sprint’s poor
billion dollars however Sprint’s poor
billion dollars however Sprint’s poor customer service soon tainted next Dells
customer service soon tainted next Dells
customer service soon tainted next Dells excellent rep and along with
excellent rep and along with
excellent rep and along with incompatible networks this dashed hopes
incompatible networks this dashed hopes
incompatible networks this dashed hopes for a bigger subscriber base and
for a bigger subscriber base and
for a bigger subscriber base and improved operations as management and
improved operations as management and
improved operations as management and customers began leaving the company’s
customers began leaving the company’s
customers began leaving the company’s shares collapsed drastically and in 2008
shares collapsed drastically and in 2008
shares collapsed drastically and in 2008 Sprint Nextel wrote down 30 of the 36
Sprint Nextel wrote down 30 of the 36
Sprint Nextel wrote down 30 of the 36 billion dollar merger number four
billion dollar merger number four
billion dollar merger number four Citicorp and travelers group when these
Citicorp and travelers group when these
Citicorp and travelers group when these companies came together in a seventy
companies came together in a seventy
companies came together in a seventy billion dollar deal the banking giant
billion dollar deal the banking giant
billion dollar deal the banking giant and the financial conglomerate thought
and the financial conglomerate thought
and the financial conglomerate thought they had a surefire way to increase
they had a surefire way to increase
they had a surefire way to increase customers
customers
customers and investors but the Citigroup merger
and investors but the Citigroup merger
and investors but the Citigroup merger felt more like a takeover when
felt more like a takeover when
felt more like a takeover when travellers group bought all Citicorp
travellers group bought all Citicorp
travellers group bought all Citicorp shares and dismissed its highest-ranking
shares and dismissed its highest-ranking
shares and dismissed its highest-ranking officers this lack of synergy forced
officers this lack of synergy forced
officers this lack of synergy forced Citigroup to later turn the traveler’s
Citigroup to later turn the traveler’s
Citigroup to later turn the traveler’s insurance division into a separate
insurance division into a separate
insurance division into a separate business number three Daimler Benz and
business number three Daimler Benz and
business number three Daimler Benz and Chrysler one of history’s biggest
Chrysler one of history’s biggest
Chrysler one of history’s biggest industrial mergers paired German car
industrial mergers paired German car
industrial mergers paired German car manufacturer Benz AG with American
manufacturer Benz AG with American
manufacturer Benz AG with American automaker Chrysler Corporation for over
automaker Chrysler Corporation for over
automaker Chrysler Corporation for over 36 billion dollars though dubbed a
36 billion dollars though dubbed a
36 billion dollars though dubbed a merger of equals the Daimler Chrysler
merger of equals the Daimler Chrysler
merger of equals the Daimler Chrysler partnership found little success
partnership found little success
partnership found little success mixing luxury and budget-friendly cars
mixing luxury and budget-friendly cars
mixing luxury and budget-friendly cars and European and American cultures after
and European and American cultures after
and European and American cultures after sales and stock prices dropped
sales and stock prices dropped
sales and stock prices dropped significantly Chrysler was sold to an
significantly Chrysler was sold to an
significantly Chrysler was sold to an American private equity firm number two
American private equity firm number two
American private equity firm number two Seagram and Vivendi Universal once it
Seagram and Vivendi Universal once it
Seagram and Vivendi Universal once it made its billions as a distillery the
made its billions as a distillery the
made its billions as a distillery the Seagram company began acquiring
Seagram company began acquiring
Seagram company began acquiring businesses like Universal Studios after
businesses like Universal Studios after
businesses like Universal Studios after several losses CEO Edgar Bronfman jr.
several losses CEO Edgar Bronfman jr.
several losses CEO Edgar Bronfman jr. agreed to merge with a French media
agreed to merge with a French media
agreed to merge with a French media company to form the vendee Universal
company to form the vendee Universal
company to form the vendee Universal entertainment less than two years later
entertainment less than two years later
entertainment less than two years later the company lost thirty billion dollars
the company lost thirty billion dollars
the company lost thirty billion dollars and was selling non strategic assets
and was selling non strategic assets
and was selling non strategic assets while the Bronfman’s experienced one of
while the Bronfman’s experienced one of
while the Bronfman’s experienced one of the biggest losses by a single family
the biggest losses by a single family
the biggest losses by a single family ever number one AOL and Time Warner it’s
ever number one AOL and Time Warner it’s
ever number one AOL and Time Warner it’s been called the worst merger ever and
been called the worst merger ever and
been called the worst merger ever and the single biggest mistake in corporate
the single biggest mistake in corporate
the single biggest mistake in corporate history the merger of the number one
history the merger of the number one
history the merger of the number one Internet company with a number one media
Internet company with a number one media
Internet company with a number one media company will bring together the best of
company will bring together the best of
company will bring together the best of both worlds
both worlds
both worlds after Time Warner merged its old-school
after Time Warner merged its old-school
after Time Warner merged its old-school print media with aol’s new-school
print media with aol’s new-school
print media with aol’s new-school digital content for 164 billion dollars
digital content for 164 billion dollars
digital content for 164 billion dollars the dot-com bubble burst
the dot-com bubble burst
the dot-com bubble burst ad aol’s reliance on dial-up internet in
ad aol’s reliance on dial-up internet in
ad aol’s reliance on dial-up internet in an increasingly high-speed industry and
an increasingly high-speed industry and
an increasingly high-speed industry and AOL Time Warner was reporting a $99 loss
AOL Time Warner was reporting a $99 loss
AOL Time Warner was reporting a $99 loss in 2002 a rapidly declining stock price
in 2002 a rapidly declining stock price
in 2002 a rapidly declining stock price and millions in lost jobs and
and millions in lost jobs and
and millions in lost jobs and subscribers forced Time Warner to spin
subscribers forced Time Warner to spin
subscribers forced Time Warner to spin AOL off into an independent company
AOL off into an independent company
AOL off into an independent company seven years later do you agree with our
seven years later do you agree with our
seven years later do you agree with our list which do you think was the most
list which do you think was the most
list which do you think was the most disastrous merger ever be sure to
disastrous merger ever be sure to
disastrous merger ever be sure to subscribe to watchmojo.com for more
subscribe to watchmojo.com for more
subscribe to watchmojo.com for more entertaining top
”
Be First to Comment