[eccr] Turner quits AOL after record loss

Turner quits AOL after record loss
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The world's largest media company broke another record Wednesday by
posting the largest annual loss in US history.  Minutes after
revealing a $100 billion (93.1 billion euros) loss for 2002, AOL Time
Warner also announced the departure of its vice-chairman Ted Turner,
the maverick cable-TV mogul.  Mr Turner, the company's largest
individual shareholder, has seen his stake in the company drop in
value by three-fourths since 2001.  In the mid-1990s, the CNN founder
sold his television empire to Time Warner, which merged with AOL in
2001.  Mr Turner, who built a reputation as a philanthropist with his
$1 billion (931 million euros) pledge to the United Nations in 1997,
has said he will now devote his energies to his charitable interests.

Source: http://news.bbc.co.uk/2/hi/business/2707199.stm - BBC News

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