Friday, May 29, 2009

Time Warner Says It Will Spin Off AOL -

Somehow seems appropriate to read about Steve Case using Twitter to comment

When the merger was announced in 2000, the two companies had a combined market value of more than $300 billion.

By the time the deal was consummated in 2001, with Internet stocks plunging and recession taking hold, that had fallen more than $100 billion. Today, the combined market capitalization of Time Warner and the new Time Warner Cable is less than $40 billion.

Steve Case, the AOL chief and co-founder, who was chairman of the merged company until 2003, has been publicly advocating splitting them again since 2005. On Twitter on Thursday, he insisted that the combination could have worked as planned but was poorly run.

In one tweet, he wrote, “Thomas Edison: ‘Vision without execution is hallucination’ — pretty much sums up AOL/TW — failure of leadership (myself included).”

Time Warner Says It Will Spin Off AOL -

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