The Chinese are doing everything they can to manage the message. They are opening up in their own time and at their own speed.

All in all I like our hand right now,

Combining the Warner-EMI roster and relationships with AOL's subscriber base and ease-of-use know-how, we will be able to lead the industry in the way this business develops,

I do think that when clouds roll in, it takes a while for them to roll out of the sky even though a lot of good work has been done underneath, ... We're optimistic that, given time and the right type of exposure, the Street will begin to see real value there.

Because the discussions are fluid, we don't know if they will result in any transaction or what form any transaction will take.

If there is such thing as a perfect fit, Warner EMI Music is it.

In my view, the real source of undervaluation is neither of these things, ... The real driver of enhanced value, I think, is going to be AOL in the short term and the long term.

This is a very exciting time for our company and the year is off to a great start,

The board is comfortable with the leadership of the company,

It's market rumors, and I can't curb market rumors,