Time Warner’s Board Hears Plan to Save AOL
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Time Warner Inc.’s board of directors met to hear a proposal to save its AOL online division and approved a plan to raise its cash dividend 10%, or half a penny.
Chief Operating Officer Jeffrey Bewkes presented a new strategy for AOL, but a decision has not been reached, said a person familiar with the proceedings.
New York-based Time Warner announced a higher cash dividend in a statement after the board meeting but made no mention of AOL.
Sources have said AOL was considering offering its e-mail and other Web services free as a way to retain subscribers it would have otherwise lost to rivals. The plan is considered risky as AOL depends on subscriptions for 80% of sales.
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