posted by Thom Holwerda on Wed 29th Apr 2009 19:36 UTC, submitted by Adurbe
IconUS media giant Time Warner has said it anticipates spinning off one or more parts of AOL as advertising sales decline at the internet business. The announcement came after Time Warner posted stronger-than-expected profits and reaffirmed its full-year forecast. Net profits for the first quarter came in at USD 661m (GBP 448.8m), a fall of 14% from the USD 771m reported a year earlier. Revenue at the company, which owns Time magazine and the CNN and HBO television networks, fell by 7% to USD 6.9bn.
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