Theo's hero? I just love the "philanthropic activities part" - as if he was not in that already?
AOL Time Warner (AOL: Research, Estimates) late Wednesday announced a $44.9 billion net loss for the fourth quarter of 2002 after a charge for the shrinking value of the America Online unit. All totaled, the media conglomerate, the parent of CNN/Money, lost $99 billion last year, the most money ever lost by a corporation in a single year.
In addition, the company said Ted Turner, the founder of CNN, is stepping down as vice chairman in order to devote more time to philanthropic activities.
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