Few people at Time Warner, the biggest media company in the world, have anything nice to say about AOL, its internet division. Executives who had shares in Time. Warner at the time of its merger with AOL in 2000 find it hard to forget how their savings were wiped out in the aftermath—the company's share price fell by 75%—and how arrogant the AOL people used to be. Five years on from the merger, AOL is still the sick man among Time Warner's television, film and publishing businesses, and it is as unlove das ever.
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