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AOL Losses Skyrocket; Turner to Step Down | |
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| Time: 00:08 EST/05:08 GMT | News Source: Associated Press | Posted By: Robert Stein | ||
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Ted Turner, the billionaire media mogul who pioneered cable television and built CNN, is stepping down as vice chairman of AOL Time Warner Inc. The world's biggest media company made the announcement Wednesday as it reported a staggering fourth-quarter loss of $44.9 billion, largely because of a huge decline in the value of its stock. Turner, who sold his cable empire to Time Warner in 1996, will leave in May. He has long been reported to be unhappy with his diminished role since the Time Warner-AOL merger. | ||
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| #1 By 14091 (63.236.113.66) at 1/30/2003 2:23:03 PM |
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This could not happen to a more deserving company.
Dateline ---- January 30, 2010. Steve Case has just taken a job as a burger flipper at McDonalds due to his financial situation. Fellow employees complain of his constant talk of the "synergy" that would be created by merging with Office Depot. |
| #2 By 3653 (216.153.67.116) at 1/30/2003 5:18:31 PM |
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but at least AOL/TW trounced MSFT first...
Oh wait a minute! |
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