In the “put it out of its misery now” category, reports have surfaced recently that TimeWarner is going to relaunch Netscape with Jason Calacanis at the helm.

The storied Netscape.com will be revived again by AOL, and will relaunch soon as a Digg-like user-driven news/aggregation site with Jason Calacanis at the helm, sources have told paidContent.org. Some Netscape-Calacanis rumors first surfaced on SV gossip site Valleywag.

From awesome browser to piece of crap browser to piece of crap portal to this. Sheesh.