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Nov 01 2007 12:00am EDT
Report: Time Warner Breakup is a Go
Is this the end of Time Warner as we know it? CNBC's David Faber says it is:
While the timing of an expected change in the chief executive position has garnered a good deal of coverage of late, Time Warner has been moving ahead with a more important plan that would result in the split off of its majority ownership in Time Warner Cable and eventually include the spin-off of publishing and parts of its AOL unit.
The "expected change in the chief executive position" refers to last Friday's report that Dick Parsons will step down any day. Nothing in the story about its sourcing or Time Warner's official reaction, but I'm sure their phones are burning up right now. I'll update as soon as there's more.
UPDATE, 3:35 p.m.: A Time Warner spokesman says, "It seems like there's a rumor a day about our company, and we're not going to comment on every speculative query that comes our way."
Also, Faber's source was "outside advisors."
