2. Was there a regulatory issue with the proposed merger of AOL Time Warner? What was it? Discuss the potential problem that you see. What agency would be responsible for it? Chapter 23. While the ownership form of the merged AOL Time Warner company would remain a corporation, what changes would the owners have anticipated? What challenges presented themselves, and why? Revisit the section in Chapter 5 where Understanding Business Combinations is discussed. Relate the information in this section to the issues presented in the case. Discuss how they might have been foreseen and what could have been done. (Chapter 5). .