Existing comment:
The Bubble Bursts:
When America Online's founder Steve Case and Time Warner CEO Gerald Levin announced the merger of their two corporations in 2000 (left), they created the largest media company in the world. But dot-com mania ended when the Internet stock bubble burst. AOL/Time Warner eventually lost $200 billion in market value. Staffs of online news services were cut, and many news Web sites closed. |