ANALYSIS: What is Time Warner?

Time Warner is an ISP, IChannel, and AdNet - integrated media company. Revenues are spread across access fees, subscriptions, and advertising. How are they doing?

Internet Service Provider

• Time Warner Cable / Roadrunner
• AOL dial-up access - majority owned

Internet Channels (list of assets)

• Portal / search - AOL, Roadrunner, Mapquest
• Social media - AIM, Bebo
• Video - Warner Brothers/New Line, HBO, CNN, TBS, Cartoon Network, ...
• Magazine - Times, People, Fortune ...

Advertising Network / Platform A

• Advertising.com - third-party remnant inventory
• Quigo - grow branded CPC inventory
• Tacoda - targeting to improve value of unbranded inventory
• ADTECH, buy.at, Kipmart, Lightningcast, and Third Screen Media

Bewkes: AOL Facing Another "Flat" Quarter
Michael Learmonth March 11, 2008 1:40 PM

Time Warner CEO Jeff Bewkes said AOL has another quarter of "flat" ad growth ahead of it as more of its users go straight to Google for search rather than searching within AOL. Bewkes said he wants to operate the access and advertising ends of the business separately, and would entertain a sale or combination for either side that made sense. "Would something added to AOL make it more viable? We can't rule it out," he said at Bear Stearns media conference in Palm Beach, Fla.

AOL Buying No. 3 Social Networking Site

Bebo lacks the hundred million friends of MySpace and the charmed social status of Facebook. But it is the third most popular social networking Web site in the United States and, to the besieged Internet company AOL, it is worth $850 million.