A year after taking the fall because the 2002 merger between AOL and Time Warner went bad, former AOL exec Bob Pittman purchased the female-targeted email newsletter Daily Candy for $3.5 million, and is now hoping to sell the website for $100 million. Time Inc. has shown interest in acquiring the property, but a source said negotiation between Pittman and the company is "premature," writes the New York Post (via MediaBuyerPlanner).
Many TW execs blame Pittman for being left with worthless stock options following the AOL-Time Warner merger, leading one well-placed source to say that Time Warner head Dick Parsons would likely reject the acquisition of Daily Candy.
"It would really embarrass Time Warner," according to one media industry source. "I would think that they would rather not own something than write a big check to Bob Pittman."
