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Massive AOL Time Warner, Canadian Heritage deal goes unnoticed by industry, unannounced by feds

News | 01/31/2002 5:00 am EST

Details of a massive new $221 million five-year investment by AOL Time Warner Inc. in Canadian cultural industries including television, film, new media, and music are just beginning to come to light after a media release late last month went all but unnoticed in the media or by industry insiders. The release outlines the results of an agreement between the department of Canadian Heritage and media behemoth AOL Time Warner that clears the way for federal approval of the January 2001 merger of giants America Online Inc. and Time Warner Inc.

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