I am going to post an alternative take to the general sentiment that saw this coming from a mile away. I think it is awesome that an organization as old as TimeWarner was able to launch a bold new product. Yes, it may have failed, but they tried.

Launching new products is insanely difficult, if not impossible, in large organizations - even in the most esteemed tech companies. And yet that is how many companies die, because they cannot overcome the internal inertia to launch something new.