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AOL Time Warner reports $100bn loss

AOL Time Warner, the world's largest media company, has posted the largest annual loss in US history. The loss is roughly the same size as the gross domestic product of Israel. The company also announced the departure of its vice chairman Ted Turner, the maverick cable TV mogul.


I hate AOL and fear AOL/TW, but it's hard to celebrate this because of its resounded economic effects. The Israel-GDP comparison really puts it in perspective how much money that company has lost. Yikes.

http://news.bbc.co.uk/2/hi/business/2707199.stm
 
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