RUMOR MILL
Friday, April 26, 2002
AOL TIME WARNER
CAUGHT IN CABLE
Media Giant Considering Sale of Cable Venture
As AOL Time Warner contemplates how to deal with first-quarter losses, reports are circulating that the Internet/cable/TV giant could sell its minority stake in Time Warner by selling stock in the cable arm. According to a Wall Street Journal report, such a move would create a publicly traded entity valued at $45 billion in stock.
Speculators say the company hopes that offering the stock would help resolve the dispute between AOL and AT&T regarding their cable partnership venture known as Time Warner Entertainment. It could provide a way for AOL to pay AT&T for its 25.5% stake in the company, without having to pull from its own pocket. If the matter remains unresolved, it could cost AOL $10 billion owed to AT&T.
Sale of the TW stock is only one of a number of restructuring ideas AOLTW executives are pondering, as current Co-COO Richard Parsons prepares to succeed Gerald Levin as chief executive on May 16.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMSrumor mail
