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Steve Case quits Time Warner board

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NEW YORK (CNN) -- Steve Case, co-founder of America Online, has resigned from the board of Time Warner to focus on a new company, he announced Monday.

Case helped engineer the purchase of Time Warner by America Online in 2001.

He served as chairman of the combined company, then called AOL Time Warner, until early 2003, when he resigned amid criticism of the media giant's declining stock price.

Case remains one of Time Warner's largest individual share holders.

Time Warner divisions include America Online, Warner Bros. Entertainment, Time Inc., Time Warner Cable, HBO, New Line Cinema and Turner Broadcasting, parent of CNN.

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