Dick Parsons, chairman and chief executive of Time Warner, said it was taking a ‘hard look’ at spinning off its cable division in his strongest indication yet that the media conglomerate is preparing to split into content and distribution businesses.
The group, which includes the Time Inc magazine publishing division, AOL internet business, Warner Brothers movie studio and cable channels such as CNN and Cartoon Network, has frequently faced investor calls for a break-up in light of lacklustre share performance.
