AOL sold WCW, Atlanta Hawks, and the Atlanta Braves only to be a huge fail and eventually Time Warner split from AOL because it was a sinking ship. Now if the deal was the other way around with Turner being in charge does WCW get sold for only a million dollars? No? It would still be around today regardless of money. AOL fucked up not WCW or Time Warner. BTW Smokey Mountain Wrestling, according to Jim Cornett, was also sold for a million dollars. Clearly there is something fishy there since 30 plus years of libraries and trademarks are not worth the same as Smokey Mountain Wrestling's 4 year run. Not to mention the Hawks and Braves also got sold on a discount price.
They also sold The Omni Hotels, Warner Music Group, Comedy Central (dumb decision), Turner Field, and the Time Warner Book Club. There was even a discussion at one time of spinning off Warner Bros and Turner Broadcasting as separate companies as well. But that idea was shot out the window. Basically the company was in very BAD shape. So they had to sell all these assets (fire sales) because they didn't have the leadership in place to make this conglomerate work.
But Comcast is doing a great job with NBCUniversal and have learned from those mistakes. It was definitely a good idea in general but poorly executed. Comcast is doing it right.