DRUDGE REPORT FLASH 2002�
XXXXX DRUDGE REPORT XXXXX MON SEPT 30, 2002 21:27:04 ET XXXXX
TED TURNER FIGHTS TO KNOCK CASE OUT OF AOLTIMEWARNER
CNN founder Ted Turner has been plotting and complained loudly to AOLTIMEWARNER executives and directors that it was time for AOL's Steve Case to go!
Turner has grown increasingly irate at the disappointing performance of the AOL division, the federal investigations into its accounting, and the resulting decline in the stock price [nearly 70% off its high], the NEW YORK TIMES is planning to front on Tuesday, newsroom sources tell DRUDGE.
MORE
Turner's feelings about Case have changed drastically since the merger was announced more than two years ago. Then, he compared his excitement over the merger to "the first time I made love." The two men became friends and even invested together in a health food company, reports the paper's Dave Kirkpatrick.
But the turning point came in July, when, traveling in Paris, Turner read a series of articles from the WASHINGTON POST about unusual accounting at AOL that may have temporarily inflated its profitable advertising sales around the time of the merger.
It was then that Turner, furious that AOL might have misled TIMEWARNER shareholders, began changing his view of Case.
Impacting....
-----------------------------------------------------------
Filed By Matt Drudge
Reports are moved when circumstances warrant
http://www.drudgereportArchives.com for updates
(c)DRUDGE REPORT 2002
Not for reproduction without permission of the author
Wayback Machine has a few older pages.
Archives linked on OpinionJournal.com.
webmaster@DrudgeReportArchives.com
Top