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Case Closed for Time Warner Board

10/31/2005 3:09 AM Eastern

Time Warner Inc. said Monday that former America Online Inc. chairman Steve Case has resigned from its board of directors.

Case -- who engineered what turned out to be the disastrous merger between AOL and Time Warner in 2001 -- has recently surfaced as head of investment company Revolution LLC, which purchased Wisdom TV in April and relaunched it as a health and wellness channel called Lime.

Case resigned as Time Warner chairman in 2003 amid the fallout from the merger, but he remained on the company’s board of directors. Other architects of the AOL-Time Warner union -- former Time Warner CEO Gerald Levin and former AOL Time Warner Inc. chief operating officer Bob Pittman -- have already left the company.

“On behalf of Time Warner’s board of directors and senior management team, I thank Steve Case for his years of distinguished service to our company,” Time Warner chairman and CEO Richard Parsons said in a prepared statement.

“We have great respect for his long record of achievement as a cofounder of AOL to a valuable member of our board,” he added. “As Steve is one of our major individual shareholders, we’ll look forward to his wise counsel as the company continues to move forward. He will be missed.”

September