TELECOM Digest OnLine - Sorted: AOL Founder Resigns From Time Warner

AOL Founder Resigns From Time Warner

Reuters News Wire (reuters@telecom-digest.org)
Mon, 31 Oct 2005 09:47:15 -0600

AOL founder Steve Case on Monday said he has resigned from the board
of Time Warner Inc., ending a storied chapter in the history of the
world's largest media company.

Case, who stepped down as chairman in 2003, was one of the original
architects of the merger of AOL and Time Warner, which helped erase
more than $200 billion in shareholder value from the stock and was the
target of two government probes into its accounting.

Once viewed as an albatross to the owners of the Warner Brothers movie
studio, HBO and Time Inc., AOL has emerged over the past year as the
center of attention for top Internet companies looking to buy a stake
in the division.

"I strongly believe that AOL -- once the leading Internet company in
the world -- can return to its past greatness," Case said in a
statement. "Over the past few months, I have been pleased to see a
renewed focus on AOL at Time Warner, and the emergence of so many
strategic alternatives."

Suitors such as Microsoft Corp., Google Inc., Comcast Corp. and Yahoo
Inc. have held discussions with Time Warner to varying extents.

Although AOL continues to lose millions of dial-up Internet
subscribers every year, the company made more of its programing
available freely over its Web properties to attract online
advertising.

Case said he was leaving to devote more time to his new company,
Revolution, which provides health-care and wellness programing and
services.

Copyright 2005 Reuters Limited.

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