Five years ago yesterday, AOL Time Warner said it would drop the “AOL” from its name. As the Times’ Andrew Ross Sorkin and David Kirkpatrick explained at the time:
The company will now be called Time Warner, an attempt to erase a big reminder of the excesses of the Internet era, America Online’s acquisition of Time Warner for shares priced at the peak of the boom.
The name change, which was widely expected and which was approved by the board, is intended to end ”any confusion between our corporate name and the America Online brand name,” according to an internal memorandum from Richard D. Parsons, the company’s chief executive. The company said it expected to begin the name change process over the next several weeks. In addition to the name change, its stock ticker symbol will change to TWX from AOL.
Well, how’s that worked out? Time Warner (TWX) closed at $13.95 last night, down 15% from its $16.45 close on Sept. 18, 2003.
View the full TWX chart at Wikinvest See Also:
Time Warner CEO Jeff Bewkes: Some Kind Of AOL Decision “Soon”
AOL: Now Our Ad Network Business Is Seizing Up, Too
Time Warner’s Shopping List: Scripps, Overseas Deals
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