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AOL began in 1983, as a short-lived venture called Control Video Corporation (CVC), founded by William von Meister.Its sole product was an online service called GameLine for the Atari 2600 video game console, after von Meister's idea of buying music on demand was rejected by Warner Bros. [8] Subscribers bought a modem from the company for $49.95 and paid a one-time $15 setup fee.
While the "marriage" didn't last, it was biggest corporate merger in history at the time. 2006: America Online drops its old name to officially become AOL and no longer charges for email services ...
AOL Time Warner Inc., as the ... described the 2001 merger with AOL as 'the biggest mistake in corporate history'. [62] In 2005, Time Warner was among 53 entities ...
In 2001, AOL merged with Time Warner to become AOL Time Warner. Due to the larger market capitalization of AOL, it gained ascendancy in the merger, with its executives largely displacing Time Warner's despite AOL's far smaller assets and revenues. AOL was spun off as its own independent company from Time Warner in 2009.
Gerald M. Levin (May 6, 1939 – March 13, 2024) was an American media businessman. Levin was involved in brokering the merger between AOL and Time Warner in 2000, at the height of the dot-com bubble, a merger which was ultimately disadvantageous to Time Warner and described as "the biggest train wreck in the history of corporate America."
The failure of the AOL-Time Warner merger is the subject of a book by Nina Munk entitled Fools Rush In: Steve Case, Jerry Levin, and the Unmaking of AOL Time Warner (2005). A photo of Case and Time Warner's Jerry Levin embracing at the announcement of the merger appears on the cover. In 2005, Case wrote in The Washington Post that "It's now my ...
In 2002, AOL Time Warner reported nearly $100 billion in losses, at the time the largest annual loss in history, according to the 2003 Fortune 500 list. The company never fully recovered after the ...
Gerald M. Levin, the former CEO of Time Warner who orchestrated its disastrous merger with AOL, died Wednesday. He was 84. Levin’s grandchild Jake Maia Arlow confirmed his death to the New York ...