• Reuters, Friday, November 4, 2005 12:30 PM

It's a phenomenon that's been discussed for almost a decade, which the new media community has been implementing for several years now, but when the chairman and CEO of the largest media company in the world says that convergence is upon us, we know it's for real. Time Warner Chief Richard D. Parsons told an New York gathering of politicians and media people that convergence is the wave of the future, but his company was just way too early, acknowledging the "abysmal" timing of the AOL-Time Warner merger. He said companies like Viacom and News Corp. are making the right moves by buying up-and-coming Internet firms, adding that Time Warner will be looking at the wireless app and video game space for future growth. Parsons made no comment about the future of AOL, however.

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