二、英譯中：（20 分） 1. In 2000, America Online (AOL) merged with Time Warner. This merger is widely regarded as the crowning disaster of the Internet investment mania at the end of the 20th century. In 2003, the merged company reported an annual loss of almost $100 billion, which was the largest loss ever recorded in corporate history at the time.
2. Home Box Office (HBO) was the first cable network to originate as a non-terrestrial broadcast TV network. It airs feature films, television movies and some original series. It also broadcasts sports programs.
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