AOL Co-Founder Says “Sorry” for Time Warner Merger

NEW YORK, July 25: In an interview with Charlie Rose, AOL
co-founder Steve Case apologized for the Internet company’s 2001 merger with
Time Warner.

Case, who was ousted as chairman of then AOL Time Warner in
2003 and left the company’s board last year, told Rose, "Yes, I'm sorry I
did it." Case referred to the aftermath of the costly merger—that
saw the company lose about $200 billion in shareholder value—as a
“disappointment”, but added that he still thought it was “a good idea.”

Case noted, "I'm disappointed and frustrated that it
hasn't developed in the way that we all hoped at the time it could. "