Mr. Levin was the chairman of Time Warner when he agreed to sell the company in an all-stock transaction worth $184 billion to the upstart internet company AOL in 2000. The merger, one of the highest-valued deals ever, ultimately flopped. The new company’s stocks quickly tanked, and the new entity announced a quarterly loss of $54 billion in April 2002.
Mr. Levin became the chief executive of the merged company but abruptly said in December 2001, after less than a year at the helm, that he was leaving amid a worsening tech market and a sluggish economy, The Washington Post reported.
Mr. Levin later apologized for his role in the deal. “I was the CEO. I was in charge. I’m really very sorry about the pain and suffering and loss that was caused,” he said during a 2010 interview with CNBC’s “Squawk Box.”
Before the merger, Mr. Levin had built Time Warner into a media empire that held dominant positions in book, magazine, television and movie production.
He was born on May 6, 1939, in Philadelphia. Survivors include four children and seven grandchildren. Mr. Levin was married three times, though all of those unions ended in divorce.
“To me and my cousins, he was our Zaidie,” Arlow said in an emailed statement, using the Yiddish word for grandpa.
Arlow, the author of several books, recalled how their mother would read their work to Mr. Levin over the phone. “He would call me when they were done reading and tell me how proud he was of me. I loved him very dearly.”
This is a developing story and will be updated.
