- Buffett's Berkshire Hathaway Boosts Stake in Wal-Mart
- Time Warner to Spin Off AOL on December 9
- Gates Boosts Waste Management, Coca Cola Stakes
- What's Kept Stock Rally Going? Fear, Not Confidence
- Fed to Keep Rates Low Despite Dollar's Fall: Bernanke
- Citi Shares, A Strange Indicator Of Unemployment?
- Millions Could Have to Repay Part of Obama's Tax Credit
- Hollywood Turns to Porn as Unemployment Rises
- Slideshow: US Cities With Most Underwater Mortgages
- Answers to Your Questions: A Path to Economic Disaster?
- 5 Ways to Play the Chinese Markets: Analyst
- Meredith Whitney: Turns Bearish
- 3 Stock Plays on Rising College Costs
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- Nov. 16: Unusual Volume Leaders
- Getting to the Heart of the Merck-Abbott Embargo Break
- What MGM's Sale Could Say About Value of Content
- My Ratings on Lowe's & Home Depot: Analyst
MOST SHARED
- Stocks Overvalued, Recession Will Return: Meredith Whitney
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- U.S. May Wind Up Green With Envy
- BofA Ex-Counsel: I Was 'Stunned' When I Got Fired
- Bernanke Offers Something For Everyone
- Fed Likely to Keep Rates Low Despite Dollar's Fall: Bernanke
- Solar Emerges From A Dark Period
- Oil Tomorrow
- Stanford Receiver to Release Funds Of Frozen Acounts
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
Text Size 
Time Warner is set to announce a separation of its AOL Internet division as soon as Thursday, the Wall Street Journal reported.
Time Warner Chief Executive Jeff Bewkes has signaled for months that the media giant was likely to move forward without AOL, the Journal reported. The company said last month it expected to spin off all or parts of the business.
Time Warner's board are expected to meet and approve of the separation of AOL into an independent company on Thursday, the Journal said, citing people familiar with the matter.
Bewkes, who has headed the company for just over 15 months, has been moving ahead with plans to focus Time Warner on its film, television and other content-creation businesses, the newspaper reported.
According to the paper, Time Warner amended its debt agreements to clear the way for an AOL spinoff and hired Google advertising executive Tim Armstrong as AOL's CEO in March, a move Time Warner indicated was a precursor to a likely separation.
 |
AP |
Time Warner is likely to turn out AOL as a single company and has not secured an independent valuation of AOL, a necessary step for its plan to buy Google's [GOOG
Loading...
()
] 5 percent stake in the unit, the Journal reported.
Time Warner [TMX
Loading...
()
] shares closed 2.2 percent lower at $23 on Wednesday.
Print
Email
- Where, what, how.
- CNBC's Jim Goldman asks: Has the sun begun to set on Twitter? Data suggests its best days are over.
- Everyone wanted a piece of Madoff's "Bullship"--the famous buoy sold for $7,500 at auction. You won't believe these prices.
- De Loach Vineyards is selling its pinot noir the old fashioned way, helping to cut energy and transportation costs.
- Why are the Chinese concerned about the progress of U.S. health care legislation?
- CNBC's Maria Bartiromo talks to rapper Snoop Dogg about brand identity in both business and music.
Data is a real-time snapshot *Data is delayed at least 15 minutes