Gerald Levin's Legacy and Controversial Merger of Time Warner and AOL
Gerald Levin, former CEO of Time Warner, died at 84. He orchestrated the ill-fated merger of Time Warner and AOL, leading to a historic $100 billion write-down. Levin's career was marked by successes like acquiring Turner Broadcasting System but overshadowed by the disastrous AOL merger. He battled Parkinson's disease and championed social causes like holistic health care and gun control.
Key Points
- Gerald Levin was a visionary executive at HBO before becoming CEO of Time Warner
- Orchestrated the merger of Time Warner and AOL, resulting in significant financial losses
- Advocated for social change and holistic health care
- Battled Parkinson's disease and lived in Long Beach, California
Pros
- Successful acquisition of Turner Broadcasting System
- Championed social causes like holistic health care and gun control
Cons
- Ill-fated merger of Time Warner and AOL leading to a historic $100 billion write-down
- Loss of value in employees' retirement accounts
- Company's shares lost 92% of their value after the merger