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Time Warner spins off AOL

Time Warner spins off AOL

TIME-WARNER is divorcing AOL and chucking it out into the cold and the snow. Before the separation can take place, Time Warner will buy the five per cent of AOL owned by Google so that it will have 100 per cent control.

Google is likely to want that because it has no interest in AOL these days. In a press release Time Warner CEO Jeff Bewkes said a separation will be the best outcome for both Time Warner and AOL.

It will be another critical step in the reshaping of Time Warner that was started at the beginning of last year, enabling both outfits to focus to an even greater degree on their core content businesses. This is management speak for we don’t want it and we don’t know why we ever bought it.

URL: http://www.hackinthebox.org/index.php?name=News&file=article&sid=31498

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