Icahn: I Made $300M On Time Warner

Billionaire investor Carl Icahn may have lost his bid to break up Time Warner Inc., but he will tell "60 Minutes," how he walked away with $300 million, CBS Corp. said Thursday.

In an interview scheduled to air on Sunday, Icahn will tell how he made the money after wrangling with shareholders in 2006 over the media company's future, said CBS.

Icahn, along with a group of investors who owned about 3 percent of Time Warner (TWX, Fortune 500), fought to break the company up into four separate units. He was opposed and beaten by other shareholders who supported chief executive Richard Parsons' effort to keep the company whole.

"Maybe I made a mistake, but I made $300 million on it. So, is that too bad?" Icahn told Stahl, according to CBS.

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Comments

[hippybaby1970]

09:30 PM on 03/07/2008

if this upsets anyone, you should consider Obama.