AOL Time Warner Inc. Launches Foundation

In the wake of federal regulators' recent approval of the merger between AOL and Time Warner, the newly created AOL Time Warner Inc. has announced the establishment of the AOL Time Warner Foundation. The new foundation merges and succeeds both the AOL Foundation and the Time Warner Foundation.

Based in New York City and Dulles, Virginia, the new organization's stated mission is "to use the power of media, communications, and information technology to serve the public interest and strengthen society" in communities around the world. The foundation will focus its efforts on programs in four priority areas: Equipping Children for a Better Future; Extending Internet Benefits to All; Engaging Communities in the Arts; and Empowering Citizens and Civic Participation. The foundation's first major new initiatives — focusing on 21st Century literacy — are designed to merge Time Warner's commitment to literacy with AOL's commitment to access to technology, and will be unveiled in the coming months.

Steve Case, chairman of AOL Time Warner, will serve as chairman of the board of the AOL Time Warner Foundation and Kathy Bushkin, a senior vice president of AOL Time Warner, will serve as the foundation's president.

"New AOL Time Warner Foundation Established" New Release 01/12/2000.