AOL Not Buying Anything Big, But Time Warner Might (TWX)

Last week, Time Warner (TWX) CEO Jeff Bewkes admitted that he’d probably overpaid when AOL purchased Bebo for $850 million. So this won’t come as a total shock: TWX CFO John Martin told an investor conference in London that AOL “is unlikely to make any major acquisitions in the near future,” MarketWatch reports.

But! Recall that Time Warner gets a big pile of cash from its cable spin off. So the parent company itself may still make some big buys. Martin also told the conference that it’s definitely in the market for the Weather Channel; as we’ve noted before, TWX’s strong cash position makes it a competitive bidder against Jeff Zucker and NBC U (GE).

Photo: Asa Mathat/AllThingsD.com

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