Thursday, January 30, 2003

In a hole

You have to enjoy the wriggling sight of AOL Time Warner posting a USD100bn loss. Or, as they might need to get used to it, USD0.1tn.

Ted Turner's resigned to concentrate on "philanthropic" endeavours - well, he's clearly now an expert at running a not for profit operation, isn't he? But what's especially curious is that the real drain - Connie and her AOL division - are losing the organisation cash while Warners Music bit is actually making money. If you can square this with the 'internet costing record labels profits' argument, we'd love to hear from you.

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