# How Deals Work

> Animated explainers of the biggest business deals in history: who bought what, why they paid that price, where the money came from, and what happened next. Run by M&A strategy consultant Erhan Civelek. Education and storytelling only. Not legal, tax or investment advice.

How Deals Work is a YouTube channel (https://www.youtube.com/@howdealswork) of animated explainers about mergers, acquisitions and other big business deals, run by Erhan Civelek, an Istanbul-based M&A strategy consultant and former Senior Manager at Kearney Dubai. Each episode page contains an article, the full transcript, key numbers with cited sources, FAQs and chapters. A plain-text version of every episode is available by adding index.md to the page URL.

## Episodes
- [AOL and Time Warner: how the smaller company bought the giant](https://howdealswork.com/episodes/aol-time-warner/): How a company with a sixth of the sales bought the giant with its own shares, and where the $98.7 billion loss came from. Plain text: https://howdealswork.com/episodes/aol-time-warner/index.md

## About
- [About Erhan Civelek and How Deals Work](https://howdealswork.com/about/): background of the creator and how episodes are researched.

## Channels
- [YouTube @howdealswork](https://www.youtube.com/@howdealswork)
- [Instagram @howdealswork.official](https://www.instagram.com/howdealswork.official/)
- [TikTok @how.deals.work](https://www.tiktok.com/@how.deals.work)
- [Erhan Civelek on LinkedIn](https://www.linkedin.com/in/erhan-civelek/)

## Optional
- [Full text of all episodes](https://howdealswork.com/llms-full.txt)
- [Sitemap](https://howdealswork.com/sitemap.xml)