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Marriage From Hell: The Breakup of AOL Time Warner
ABOUT THE SHOW
It didn't last a decade. After nearly 10 very difficult years, AOL finally left the house of Time Warner. Today, it is on its own again. The union, consummated at the height of the internet bubble, was touted as the "deal of the century" – the perfect marriage of old and new media. It is now considered the worst deal of all time. In 2003, three years after AOL announced it was buying Time Warner, we took an in-depth look at why a relationship with so much promise was on the rocks. Now, CNBC takes a look back with new insight from the men who created a momentous merger... and an epic debacle.
PROGRAM HIGHLIGHTS
Deal of the Century
AOL, the best known Internet company of the 1990s bought Time Warner, a pillar of the old media establishment. When the massive deal was announced, Wall Street rushed to embrace it, while top leaders of the media business were shaken to their core.
(Photo: Getty Images)
AOL, the best known Internet company of the 1990s bought Time Warner, a pillar of the old media establishment. When the massive deal was announced, Wall Street rushed to embrace it, while top leaders of the media business were shaken to their core.
(Photo: Getty Images)
The Merger
Just after the merger, Time Warner employees saw the writing on the wall... their company's name came last. The union didn't last a decade. After nearly 10 very difficult years, AOL finally left the house of Time Warner.
Just after the merger, Time Warner employees saw the writing on the wall... their company's name came last. The union didn't last a decade. After nearly 10 very difficult years, AOL finally left the house of Time Warner.
Gerald "Jerry" Levin
Jerry Levin, then Chairman and CEO of Time Warner, held fast to a vision of an interactive world. For him, the merger with AOL was the fulfillment of that vision.
Jerry Levin, then Chairman and CEO of Time Warner, held fast to a vision of an interactive world. For him, the merger with AOL was the fulfillment of that vision.
Steve Case
AOL's Steve Case was an entrepreneur with marketing savvy. Case and Levin were in search of the next big thing – they found it in each other.
AOL's Steve Case was an entrepreneur with marketing savvy. Case and Levin were in search of the next big thing – they found it in each other.
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