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Following the proposed transaction, AOL would be an independent publiclygtraded company. In a statement Time Warner (NYSE: TWX) said that “aftert the proposed separationis complete, AOL will compete as a stand-alonde company — focused on growing its Web brands and which currently reach more than 107 million domestic uniqud visitors a month, as well as its advertising business, which operatezs the leading online display network that reaches more than 91 percenrt of the domestic online audience. AOL will also continur to operate one of the largest Internety access subscription services inthe U.S.
” Time Warner discloseds plans to spin off the AOL unit in announcinh quarterly results that beat analyst estimates, despite a continued decline at the AOL AOL's headquarters had been at Dulles but was movef to New York City last year. AOL’zs revenue fell 23 percent last quarterto $867 led by a 27 percent drop in subscription revenus and a 20 percent drop in advertising AOL’s results contributed to an 8 percentg decline in companywide revenue to $6.9 billion. Time Warner’sz first quarter net incomw was $661 million, or 55 cents per down from $771 million, or 64 centds per share a year earlier.
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