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When Levin died on March 13, though, obituaries primarily remembered him for his central role in the “worst merger in corporate history”: The $350 billion AOL-Time Warner deal, which served as ...
Richard D. Parsons, a pioneering Black business executive who led Time Warner after its disastrous merger with AOL and had a hand in untangling some of the media industry’s knottiest dilemmas ...
Despite spinning off Time Inc. in 2014, the company retained the Time Warner name until 2018, when the company was renamed WarnerMedia after it was acquired by AT&T. [7] On October 22, 2016, AT&T officially announced that they intended on acquiring Time Warner for $85.4 billion (or $108.7 billion when including assumed Time Warner debt ...
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."
After the merger, creating AOL Time Warner, factors like the dot-com recession greatly affected the company, leading to a historic $100 billion write-down. Levin resigned in 2002.
He was widely credited for Time Warner’s stunning turnaround after a botched $165 billion merger with AOL, the web portal ubiquitous in the early days of the internet.
As Discovery combines with Warner Bros., it will mark an end to one of the most disastrous mergers in media history, perhaps second only to the AOL/Time Warner union in 2000.
Parsons was widely credited with the turnaround of Time Warner after its botched $165 billion merger with AOL, CNN reported. With Parsons as CEO, Time Warner slashed its debt by roughly half as it ...