Time Warner CEO: no AOL spinoff for now
A Dow Jones newswire article on CNN/Money:
Time Warner Inc. Chairman and Chief Executive Dick Parsons said the media conglomerate recently considered spinning off America Online but decided such a move was unnecessary for now.
At the company's annual shareholder meeting, Parsons told investors that executives had considered spinning off the unit as a separately traded stock to create a currency for the unit to make acquisitions.
The move would have been similar to the company's planned spinoff of its cable-television unit following the completion of its acquisition of Adelphia Communications Corp., he said.
But AOL management deemed the move was unnecessary "at this point in time," he said.
posted by Fergie @ 5/20/2005 01:11:00 PM
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