Time Warner's Parsons says focus on AOL a "priority"
Richard Siklos of The New York Times reports this morning that Time Warner CEO Richard Parsons told a Goldman Sachs media conference that AOL is no longer a stigma on the company, and could yet again be a driver for enhanced company growth.
Mr. Parsons indicated that amid pressure from Carl C. Icahn, the financier and Time Warner shareholder, he was "looking real hard" at moves like buying back more stock and increasing the dividend.
But he added that a big buyback and Mr. Icahn’s proposal to spin off the company’s cable system missed the point.
"In my view, the real source of undervaluation is neither of these things," Mr. Parsons said. "The real driver of enhanced value, I think, is going to be AOL in the short term and the long term."
(The New York Times)
- Microsoft to include Crossfire support in Windows Vista
- DRAM market shows stronger shift to DDR2
- Large-size LCD panel oversupply to be worse than expected
- Abit to migrate half of its capacity to ECS by end of October
- Sony to lay off 10,000 over three years
- Epson's unveils portable media player
- MSI readies three new NVIDIA 6100-integrated boards
- Vista graphics drivers to be more stable than XP drivers, ATI says
- The 2-faced mouse
- New virtual memory tools, devices may speed up Windows Vista I/O
- SEC investigating Altera's dealings with analysts
- Acer to deliver 24" wide screen LCD monitors in October
- Graphics card makers expect Vista to improve profits
- Nanomaterials to benefit flat panel industry
- US broadband take-up slows to a crawl
- Brightside intros 200,000:1 contrast ratio display
- Cardtrp mobile phone virus can spread to PCs
- iPod nano owners in screen scratch trauma
