Fools Rush In

Steve Case, Jerry Levin, and the Unmaking of AOL Time Warner
Product Number: EB00232218
Released: Mar 17, 2014
Business Term: 26 Circ
ISBN: #9780061743740
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Description

Every era has its merger; every era has its story. For the New Media age it was an even bigger disaster: the AOL-Time Warner deal. At the time AOL and Time Warner were considered a matchless combination of old media content and new media distribution. But very soon after the deal was announced things started to go bad-and then from bad to worse. Less than four years after the deal was announced, every significant figure in the deal -save the politically astute Richard Parsons-has left the company, along with scores of others. Nearly a $100 billion was written off and a stock that once traded at $100 now trades near $10. What happened? Where did it all go wrong? In this deeply sourced and deftly written book, Nina Munk gives us a window into the minds of two of the oddest men to ever run billion-dollar empires. Steve Case, the boy wonder who built AOL one free floppy disk at a time, was searching for a way out of the New Economy. Meanwhile Jerry Levin, who'd made his reputation as a visionary when he put HBO on satellite distribution, was searching for a monumental deal. These two men, more interested in their place in history than their personal fortunes, each thought they were out-smarting the other.

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Author(s): Nina Munk
Original Publish Date: Oct 13, 2009

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