AOL Time Warner has serious problems

Grants | Legacy Digitization |
April 26, 2002
Jon Gordon - Reporter
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AOL Time Warner has reported the biggest quarterly loss ever by a US company, more than 54 billion dollars. New accounting rules forced the company to take a whopping charge to reflect the decline in the value of its assets. The writedown follows a sharp decline in the company's stock, which has fallen by more than half since the America Online-Time Warner merger was announced in January of 2000. The company is home to CNN, People Magazine and television shows like the Sopranos. Its weakest unit lately is the AOL Internet service. Kara Swisher follows AOL Time Warner for the Wall Street Journal.

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