NEW YORK (Reuters) – Time Warner Inc Chief Executive Jeffrey Bewkes said on Friday that his company is still leaning toward spinning off AOL to shareholders as the preferred method for divesting the struggling Internet unit.
Bewkes said forms of separation being considered include a split-off, spin-off or a combination.
A spin-off would see Time Warner distribute the stock it owns in AOL on a pro rata basis to its shareholders, similar to a dividend distribution.
As widely expected, Time Warner confirmed on Thursday that it would separate AOL as an independent, publicly traded company.
Bewkes told Sanford Bernstein's Strategic Decisions Conference on Friday that AOL will be setting up its own board and other requirements for a public company over the next six months in time to complete the separation.
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