AOL Founder Regrets TW Merger

By: E&P Staff

In a Friday interview with journalist Charlie Rose, Steve Case, co-founder of America Online (now AOL), said he was sorry for the company’s merger with Time Warner, Reuters reported.

Case, who was ousted as chairman of the company in 2003 and then finally left Time Warner in 2005, was quoted as saying “Yes, I’m sorry I did it,” referring to the 2001 deal, which is recognized to be one of the worst corporate mergers in history. Approximately $200 billion in shareholder value was destroyed as a result of the merger.

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