Time Warner, the world's biggest media company, said yesterday that it would not achieve its original financial goals for 2002 because the online advertising market had deteriorated even further than it had expected. The announcement came as AOLTW announced a $54.2B net loss for the first quarter, among the biggest quarterly losses in corporate history. ... [This makes] it clear that the difficulties facing the company's flagship America Online unit are more daunting than even some pessimists had expected. ... The bigger they are, the harder they fall ... AOL's Slump Helps Produce a Major Loss for Its Parent | 
