Time Warner is setting out plans to split AOL’s business in two, moving its online access business for consumers away from its advertising content.
Speaking at Time Warner’s quarterly financial conference yesterday, Bewkes said that he was initiating talks to change the group’s 84% ownership of Time Warner Cable – talks which could lead to complete separation.
Time Warner’s full-year profits dropped by 33% to $4.38 billion (£2.2billion).
The news follows the earlier announcement that AOL has acquired affiliate marketing network buy.at (see AOL Acquires buy.at Affiliate Network).