CNET is reporting that AOL Time Warner announced a net loss of $98.7 billion for 2002. Ouch. That’s more than the GNP of most countries. It’s more money than I make in a year, certainly.

Steve Case and Ted Turner are both leaving the company, which reinforces my long-held belief that those mergers were probably a bad idea. Turner has probably regretted selling out to Time Warner for years. Certainly since he first heard the phrase “AOL Time Warner.”