In his first quarterly conference call since becoming CEO of Time Warner, Jeff Bewkes indicated that he is looking to make some changes. He told analysts that the company is looking at splitting off the Internet-access business of its AOL unit to focus on increasing page views and ad sales for its AOL portal. Time Warner has already sold off AOL’s Internet access businesses outside the US. In addition, Bewkes indicated that Time Warner might further reduce its current 84% stake in Time Warner Cable, whose stock also trades publicly.
Time Warner itself reported that Q4 revenues rose 2.4% to 12.6 billion. Net income declined to 1.03 billion, or 28 cents per share, from 1.75 billion, or 44 cents per share, a year earlier. That previous year’s quarter had included some one-time gains.