re: aol 170 billon loss & ted turner resigns
Jan. 29 — Ted Turner, the brash entrepreneur who founded CNN more than 20 years ago and merged it into what is now the world’s biggest media company, is resigning from AOL Time Warner. “After much reflection, I have decided to resign from my executive duties as vice chairman of AOL Time Warner,” Turner said in a statement. “I have not come to this decision lightly.” The announcement came minutes after AOL said it will record a net loss of nearly $100 billion for all of 2002 — the largest loss in U.S. corporate history.
