17 years ago today, Time Warner filed for divorce from AOL
Ted Turner called the merger "better than sex."Then said: "I'm the stupidest person in the world not to have sold earlier."The AOL Timeline:• Jan 2000: AOL buys CNN, HBO, and Warner Bros for $165B, all paid in stock• Jan 2001: Deal closes and the Nasdaq goes down 45%• 2002: $98.7B annual loss. Largest in US corporate history• 2009: AOL spins off. Worth $3.3B. Down 98%Steve Case traded AOL stock for CNN, HBO, and Warner Bros, then resignedTed Turner was still holding and he lost $8.5B
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