7 Worst Tech Mergers Of All Time
2. AOL/ Time Warner
During the 1990’s, the web was expanding and broadband industry was eating up the dial-up connection market. AOL then decided to reinvent itself as the content and broadband giant by purchasing Time Warner.
The massive $164 billion deal was executed by AOL CEO Steve Case and Time Warner CEO Gerald M Levin. The results were highly anticipated and the world thought that only greatness could be achieved off a union of this kind. How wrong were we!
The merger was a complete disaster and the value of AOL dropped down to $1.73 billion from $240 billion. Its user base has also fallen from 30 million to just 5 million. Thankfully AOL’s new CEO announced that Time Warner would be made an independent company in 2009, thus ended one of the worst business relationships ever.
