Thursday, 30. January 2003
Topic: - on January 30, 2003 at 7:34:00 AM CET
AOL loses Ted Turner and $99 billion
Ted Turner is resigning as vice chairman of AOL Time Warner, capping a tumultuous year for the beleaguered media giant.
The announcement came just shortly after the company reported a net loss of $98.7 billion for 2002. Those results included a $45.5 billion fourth-quarter charge related primarily to depreciation in the value of its America Online unit, as well as a first-quarter charge of $54 billion in accordance with accounting rules changes that took effect last year.
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