Word: warner
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...service's woes have infected all of AOL Time Warner, whose stock is the third most widely held in the U.S. By the end of last week, those shares had dropped to $20.10--wiping out nearly two-thirds of the market value of the combined companies since their merger was announced in January 2000. Several Wall Street analysts estimate the company's cable, entertainment and publishing divisions (which include CNN, Warner Bros., Warner Music and Time Inc., the parent company of this magazine) are worth about $19 a share. That leaves AOL near zero. When it reports its first-quarter...
...doing so at a profit--is proving a vastly more complex business proposition than anyone imagined. As the ongoing battle over music and video downloads suggests (think Napster), success in a broadband world requires solving complex questions about copyrights and digital encryption. Few executives, even at AOL Time Warner's movie and music divisions, are ready to open their treasure troves to the threat of piracy in an online, on-demand world. The broadband business also requires AOL to pay a cable or DSL provider for access to the pipes that reach customers' homes--at least...
...lauded among employees who view him as an impassioned leader with a down-home style that reflects his Southern roots and a long stint in the music business. (After an early spell in radio, Pittman went on to found MTV and VH1 and did a stint at Time Warner before joining real estate firm Century 21.) He flies his own jet and has houses in New York, Colorado and Jamaica. But unlike many other AOL millionaires who spend more time with their toys than at the office, Pittman is committed to the company (although his wife Veronique and their...
...part, Steve Case is confident in his former deputy and their joint vision. "The AOL business is still the crown jewel in the AOL Time Warner portfolio," Case says. "It will surprise the world yet again by raising the bar and inspiring imagination...
...road has been a rocky one for Waller, 58, who had his private life dragged into the spotlight in 1997 when he left his wife for a blond thirtysomething ranch hand. Even more worrying to loyal Waller fans, Warner Books, which made a mint on Bridges, rejected the sequel, which instead will be published next week by a small Texas press. That's like Paramount passing on Titanic...