Jeff Bewkes Says Still Separating AOL Access, Admits Wasted Money on Bebo

Time Warner CEO Jeff Bewkes denied our source’s report that AOL has decided not to separate (and then, possibly, sell) its Access business, PaidContent’s Joseph Weisenthal reports. And just in the nick of time, too: Peter Kafka says Liberty might actually be interested in buying it.

AOL had already flatly denied our source’s story, so Jeff’s remarks aren’t a big surprise. (We’ll check back with our source to see if he/she has changed his/her tune). If AOL does push forward and cut the two businesses apart, it will be interesting to see how they do it. Specifically, it will be interesting to see:

  • Profitability of access
  • Profitability of content
  • Future traffic distribution agreements between the two (a significant percentage of AOL’s content pageviews still come from dial-up subscribers).

Jeff also apparently admitted that Time Warner probably overpaid for Bebo, which has been the consensus since the deal was announced. For the sake of us Time Warner shareholders, it’s too bad this revelation couldn’t have come before the deal was consummated.


See Also: AOL Will Not Separate Access and Content Businesses–Source

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