AOL Time Warner Inc. Chairman Steve Case reportedly said he feels the Internet business, the economy and the country had hit an economic bottom.
At a Goldman Sachs media conference in New York on Tuesday, Reuters reports Case said, "I can't predict that it is an absolute bottom, but it feels like it will be up from here. I'm taking comfort in that things got difficult and people are reassessing."
Case said AOL had to "reluctantly" reset its financial targets because the advertising market was not coming back in the fall nor anytime soon as it had hoped. But Case said he was confident in the diversified nature of AOL Time Warner's business.
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