AOL Time Warner now just Time Warner again

Sept. 18, 2003 at 2:58 PM
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NEW YORK, Sept. 18 (UPI) -- AOL Time Warner's board of directors approved a proposal Thursday to remove the "AOL" from its name and become, once again, simply Time Warner.

Cnet reported company CEO Richard Parsons said the name change will occur within the next few weeks. The company's ticker symbol on the New York Stock Exchange will change from "AOL" to its old symbol, "TWX."

Said Parsons: "We believe that our new name better reflects the portfolio of our valuable businesses and ends any confusion between our corporate name and the America Online brand name for our investors, partners and the public."

The Washington Post said industry analysts consider the name change only symbolic, as the company moves beyond the biggest merger in history. The $112 billion, 2001 merger resulted in deflated stock prices and a government investigation into AOL accounting problems.

Time Warner also owns CNN, Time and People magazines, HBO, Time Warner cable, and the Warner Brothers and New Line Cinema movie studios.

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