Stealing Time: Steve Case, Jerry Levin and the Collapse of AOL Time Warner - Softcover

Klein, Alec

Softcover

ISBN 10: 074325984X ISBN 13: 9780743259842

Publisher: Simon & Schuster, 2004

Synopsis

When America Online bought Time Warner in 2000, it was not only the largest corporate merger in history, but also a much-touted marriage of New Media and Old Media. Questions, however, began on the day the merger was announced by Steve Case of AOL and Jerry Levin of Time Warner. The stock price started a long decline, and the Federal Trade Commission subjected the merger to intense scrutiny. More than a year later regulatory agencies gave their approval, but AOL Time Warner's troubles were far from over. A clash of cultures prevented the company from fulfilling expectations and AOL's business slowed and then stalled. Just two years later, once-triumphant AOL is under investigation by both the SEC and the Justice Department. The company reported the largest loss in corporate history - $100 billion - in 2002, and four of the top AOL and Time Warner executives present at the announcement of the merger - Case, Levin, Bob Pittman, and Ted Turner - resigned. How did the deal of the century become such an epic disaster?

About this title

About the Author

Alec Klein is an award-winning reporter at The Washington Post. His previous book, Stealing Time: Steve Case, Jerry Levin, and the Collapse of AOL Time Warner, was a national bestseller that The New York Times called "a compelling parable of greed and power and hubris." He lives in Washington, D.C., with his wife and daughter.

Edition details

• Publisher: Simon & Schuster
• Publication date: 2004
• Language: English
• ISBN 10: 074325984X
• ISBN 13: 9780743259842
• Binding: Paperback
• Number of pages: 352