AOL reports big loss on goodwill charge
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Posted 7:53PM on Wednesday 29th January 2003 ( 22 years ago )
NEW YORK - AOL Time Warner reported a staggering fourth-quarter loss of $44.9 billion Wednesday, largely because of the declining value of the world's biggest media company. Separately, the company announced Ted Turner is stepping down as vice chairman. <br>
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AOL Time Warner took a $45.5 billion charge to account for the company's plunging value. Without that ``goodwill writedown,'' AOL said its results actually beat Wall Street estimates.
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