ABSTRACT
The announcement of the merger did not surprise many financial insiders on Wall Street. The September 14, 1979 press conference only served to confirm the rumors. American Express announced its inten tion to purchase 50 percent of the Warner Cable Corporation (WCC) for $175 million. The choice of companies may have startled some, but in light of its unsuccessful bids for Walt Disney Productions, McGrawHill, and others over a two-year span, the cash-heavy traveler’s-check and credit-card corporation finally was able to expand into the com munications field.
