5. $3,800,000,000,000 AOL–TIME-WARNER KMART-SEARS CINGULAR-AT&T CHICAGO TRIBUNE – LA TIMES J – CHASE BANK, etc. etc. etc. etc. 70% 50% “ of these ventures fail”….Perry & Herd, 2004 “ ..had lower shareholder returns than their industry peers”. Lebedow , 1999