Time: The media mega-merger that changed everything

Thirty years ago today, Time Inc. announced it would acquire Warner Communications Inc. It was a mega-deal in the media industry, and promised what would become a rather over-used word: synergy. The 1989 deal sparked a wave of consolidation, and then de-consolidation, as the industry tried to keep up with today's broadband and mobile reality.Click the audio player above to hear the full story.