Eighteen months ago, former Time Warner CEO Gerald Levin publicly apologized for the AOL-Time Warner merger on CNBC, saying “I presided over the worst deal of the century, apparently.”
Now, as the honeymoon phase passes for the AOL-Huffington Post merger, Levin is again looking back at the merger in a new interview with Forbes.
Levin considers Time Warner’s merger with AOL in light of the company’s new working relationship:
“If you live long enough you have delicious ironies. Time Warner was basically a content distribution company and AOL was a digital service company and putting the two together was intended to put an Internet injection into Time Warner. It didn’t exactly work out that way, but the intention was really significant. To this day, our legacy media companies continue to wrestle with is how you make that transition.”
When asked what direction he thinks “the news business” is heading, Levin says, “This is kind of a dream we had…I think the opportunity for the expansion of knowledge is tremendous,” and acknowledged the difficulty of “legacy companies” to adapt to new media.
Watch Forbes‘ Maureen Farrell‘s full interview with Levin below:
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