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  "documentTitle": "Time Warner Inc. (TWX)",
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  "notes": "The slide uses a narrative structure to critique management's strategic choices and disclosure practices.",
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      "kind": "callout",
      "text": "Exhibit 2A.9: The Google Agreements",
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      "text": "The public disclosures about the terms of the agreement have failed to clarify the extent of the commitments made by AOL and the potential limitations on future strategic agreements.",
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      "text": "AOL has signed two major strategic agreements with Google. The first was signed in May 2002 and the second was signed in December 2005. The Google partnership has proven to be one of AOL's most material strategic agreements...",
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      "text": "AOL's desire to continue its partnership strategy on search stands in stark contrast with that of Yahoo and other major Internet players. Consider the recent acquisition history of Yahoo in this critical sector...",
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      "text": "AOL recently announced a new five-year agreement to license technology and paid search listings from Google. The negotiation process appears to have been managed in classic AOL style, with multiple parties being played off against each other...",
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      "text": "(a) Company filings. (b) Information and estimates based on various Wall Street research reports.",
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      "text": "CHAPTER 2A: AOL",
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