Word: warner
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...world's largest real estate company to rescue a struggling Internet company that many critics had already written off. He did that and more, using his marketing wizardry to turn America Online into a new media powerhouse, big enough to eventually swallow an old media standard bearer called Time Warner. He became a self-designated prophet of 21st century success: AOL was going to rocket Time Warner into a brave new world, delivering music, movies and you name it, anywhere, anytime--and of course make a killing in the process...
...last week Pittman had to be called on once again to save AOL, which is beginning to look like the media giant's albatross. After eagerly devouring Pittman's hype just a year ago, investors and critics now feel woozy. Incoming AOL Time Warner CEO Richard Parsons, 54, clearly felt that nobody could clean up the mess better than Pittman, which is why he asked his top deputy to go back to Dulles, Va., on a new rescue mission. "AOL is our biggest problem, and so we're putting our best fighting general on it," says Parsons, who was designated...
...fact is, two years after the merger was announced, AOL Time Warner's top brass is being forced to prove the decision was not a mistake. Despite its powerful brand and unrivaled global member base of 34 million, the AOL division has seen its once stratospheric subscriber growth slow, its ad revenue fall and its international operations bleed money. The much ballyhooed broadband move--in which networked homes will enjoy high-speed connections to movies and music whenever they want--is off to a rocky start. Any delay is crucial to consumers eagerly anticipating the broadband revolution, because...
...Warner Bros...
...Meanwhile, the corporate overlord of this writer, AOL Time Warner, recently sent out letters informing all worker bees - corner office or not - that new company-match contributions in company stock would be immediately transferable to, well, whatever other investment option we worker bees might find enticing. Do nothing, and the money still buys company stock (this strategy also works if you happen to believe in the company's prospects). Want to move it all into, say, Microsoft? Good old AOLTW won't squawk, not now or three years from...