[Timesink]

Think maybe this is why Ted Turner just quit?

[CheneyChick]

Wow. That is a lot of money. Wow.

[GeneD]

Posted.

[Blood of Tyrants]

They send me 20 of those stupid AOL disks a year, which I promptly throw in the trash.

[Reactionary]

I'm sure it is. Red Ted and his Stalinist media empire are crumbling.

Boo yeah!

[cricket]

"Think maybe this is why Ted Turner just quit?"

. . .bet 'quit' does not 'quite' tell the real story. . .

[Shermy]

The full-year loss exceeded the gross domestic product of Egypt in 2001.

Egypt's got land, people, farms, some oil, the Sphinx. Most of what AOL TW has/had is "synergy."

[Carry_Okie]

It couldn't happen to a more deserving individual...

Except Hillary, Bubba, Dashole, Giphart... well, uh, you know what I mean. ;-)

[leadpenny]

Maybe Ted could get back the money he gave to the UN.

Guess that would be just a drop in the bucket.

[copycat]

Hope they go belly up, socialist bastards.

[TaRaRaBoomDeAyGoreLostToday!]

AOL sucks. They are to expensive.

[Timesink]

Updated article:

AOL TW Posts Loss of Nearly $100 Billion

Wed January 29, 2003 05:17 PM ET

By Reshma Kapadia

NEW YORK (Reuters) - AOL Time Warner Inc. AOL.N , the world's largest media company, on Wednesday posted a 2002 loss of nearly $100 billion, the largest annual loss in U.S. corporate history, after taking a whopping $45.5 billion charge in the fourth quarter to write down the value of assets.

The company, which also said media mogul Ted Turner would step down as vice chairman, reported a fourth quarter net loss of $44.9 billion, or $10.04 a share, after taking the non-cash charge to write down the value of its embattled America Online business and other assets. That compared to a year-ago loss of $1.8 billion, or 41 cents a share.

While analysts said overall operating numbers came in near expectations, some expressed disappointment at the size of the charge -- which came on top of a $54 billion charge AOL took in the first quarter.

"The negative was the goodwill writedown of $45 billion, which was bigger than expected, although their debt covenants are still safe because they have to keep at least $50 billion in equity and they finished the year with about $52 billion," said David Joyce, an analyst at Guzman & Co.

Shares of AOL fell to $13 in after-hours trade, after closing at $13.96 in regular New York Stock Exchange trade.

AOL Time Warner posted earnings before a range of items of 28 cents a share, compared to 26 cents a year-ago. This compared to analysts' consensus estimates of 26 cents a share, according to Thomson/First Call.

The company said revenue in the quarter grew 8 percent to $11.4 billion while earnings before interest, taxes, depreciation and amortization (EBITDA) -- a key measure of cash flow --- rose 16 percent to $2.8 billion from a year-earlier for the quarter. Analysts polled by Multex expected, on average, EBITDA of $2.6 billion.

Strength in the company's film/entertainment business, with hits like the "Lord of the Rings" sequel, and cable networks offset weakness in the fourth quarter at America Online, which has been suffering from a sharp slowdown in advertising spending and subscriber growth.

The quarter capped a tumultuous year. About two years after AOL completed its $106.2 billion purchase of Time Warner, the old media veterans from Time Warner are running the show and the key architects of the deal have been forced out amid calls from angry investors that view the merger as a failure.

The company said it sees revenue growth for the 2003 full year in the mid-single digits and said it sees EDITDA to be essentially unchanged to down in the low-single digits.

Earlier on Wednesday, AOL Time Warner said it sold its 8.4 percent stake in Hughes Electronics Corp. GMH.N as part of its efforts to cut its debt load.

The company said it plans to reduce total consolidated debt to approximately $20 billion by the end of 2004.

Turner, AOL's largest individual shareholder and the originator of 24-hour news network CNN who is often called "the mouth from the South," will step down as vice chairman at AOL's annual meeting in May, Chief Executive Richard Parsons told analysts on a conference call.

Turner, in notifying Parsons of his resignation, said he wanted to devote more time to his philanthropic and other interests.

Turner had told cable television executives in November 2001 that he felt sidelined by AOL Time Warner when he was replaced in January 2001 as head of Turner Broadcasting Systems, the unit that includes CNN.

Turner as of the end of July held about 122 million AOL shares.

[HairOfTheDog]

Strength in the company's film/entertainment business, with hits like the "Lord of the Rings" sequel, and cable networks offset weakness in the fourth quarter at America Online, which has been suffering from a sharp slowdown in advertising spending and subscriber growth.

I hope we don't have to donate money so they can get RoTK out on time.... But I would do it! LOL!

[Grampa Dave]

So when will CNN or the Clintoonian Noodle Nuts be put up for sale?

[Jumper]

I like to think that the Democrat induced Netscape purchase by AOL, who in turn was purchased by AT&T, in turn scraffed up by the Ted Turner Time-Warner anit-Microsoft Crowd is getting their just deserved. Microsoft is challenging Tiem-Warner/CNN in the domestic cable industry by proxy company in building a fiber optic H across the US which started in the fall of 99 with about 500 small cable companies bought out and brought together - Ted Turner's faith in government rather than the free market to make honest money is what cost him and many their fortunes; trusing political induced profits is always something that a vote can change and in 2000 that happened!

[GalvestonBeachcomber]

Most of that money was spent sending me AOL CD's in the mail.

[Hillarys Gate Cult]

I never went to business school but I think a good solution would be for them to offer a good and fairly priced product. AOL never seemed to care about either. If I got a MBA degree, could I too learn to make decisions that lose several billion dollars?

[Grampa Dave]

Well this is taking care of at least three of our favorite rat run companies and former big time donors to the DNC:

1. AOL
2. Time/Warner
3. CNN or the Clintoonian Noodle Nuts

The DNC gets more bad news!

[HaveGunWillTravel]

Yay!

[oyez]

Looks kie Wiley Coyote just caught up with The Roadrunner.

[ChadGore]

100 Billion. That's a lot of AOL CDs drink coasters.