By Tricia Johnson
Updated February 09, 2001 at 05:00 AM EST

It’s adios, Acapulco, for AOL Time Warner. The conglomerate (and EW parent company) has sold its south-of-the-border hacienda to cable magnate and Power Rangers mastermind Haim Saban for $7 million. (Saban and an AOL Time Warner spokesman both declined to comment.) The estate was acquired by late Warner Bros. chief Steve Ross in the early ’70s and became emblematic of the exec’s perk-happy, celeb-schmoozing reign. Over the years, Villa Eden (as it is known) played host to Warner-friendly stars like Kevin Costner, Lisa Kudrow, and Mel Gibson. The modern-looking hillside compound features two separate homes situated on about two and a half lush acres. Splashy amenities include two pools, indoor and outdoor tennis courts, 14 bedrooms, a screening room, and five massage chambers. But Warner Bros. VIPs shouldn’t despair: The studio still has a ritzy retreat in Aspen!