The Engine Stalls At AOL

Steve Case's online giant was supposed to take Time Warner to new heights, not lows

Six years ago, Bob Pittman traded away his job as CEO of the world's largest real estate company to rescue a struggling Internet company that many critics had already written off. He did that and more, using his marketing wizardry to turn America Online into a new media powerhouse, big enough to eventually swallow an old media standard bearer called Time Warner. He became a self-designated prophet of 21st century success: AOL was going to rocket Time Warner into a brave new world, delivering music, movies and you name it, anywhere, anytime--and of course make a killing in the process.

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