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The Guardian - UK
The Guardian - UK
Technology
Jack Schofield

AOL makes biggest loss in US history

AOL Time Warner has announced a loss of $44.9 billion in the fourth quarter because of the costs of writing down the value of America Online and its cable television systems. The write-downs boosted the loss to $98.7 billion for all of 2002. Cable TV news pioneer Ted Turner, the former Mr Jane Fonda, is resigning from his position as vice chairman. The company owns CNN, Time and People magazines, Warner Brothers (think Harry Potter and Lord of the Rings), Warner Music, AOL, ICQ, Netscape, CompuServe, Winamp and too many other things to mention. For the numbers, see AP, Reuters, CNN or just about any news site.

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