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October 22, 2006

Time-Warners Consider AOL "Demerger"

As we continue to circle back economically to the go-go days of the late 1990s, it is interesting watching as some of the excesses continue to unwind.

On Monday we have Jeff Skilling of Enron's sentencing, which many think will be lighter than originally expected, and now we have a story in today's Telegraph saying that Time-Warner thinks the idea of spinning out AOL is becoming "more interesting":

Time Warner, the giant US media group, is considering the sale or demerger of AOL, the internet business it merged with in 2000, at the height of the last stockmarket boom.

In an interview with the Sunday Telegraph, Jonathan Miller, chief executive of AOL, admitted that the Time Warner board is already mulling over a break-up of the giant conglomerate. Asked about the possibility of AOL separating from Time Warner, Miller confirmed that the issue is now on the agenda following the sale of the group's broadband businesses in Europe.

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