• BusinessWeek, Thursday, March 5, 2009 11:30 AM

CEO Jeffrey Bewkes tells BusinessWeek to expect a leaner Time Warner in the coming weeks, and that this could mean the end of the line for AOL. Bewkes said the media conglomerate would be more focused on TV, movies and journalism. As for AOL, "we are continuing to explore multiple options, including combining AOL with other businesses -- or even a spin-off of all or some of its parts. It remains a top priority." AOL's "parts" include an ad-supported portal, a dial-up subscription business, and a third-party Web advertising service.

Bewkes also expanded on his concept of "TV Everywhere" which he originally outlined earlier this week. "We believe...that consumers should have access on broadband to the same channels they see on television," he said. "But the online model has to support, not undermine, the distribution fee and advertising arrangements between programmers and distributors. Those with a subscription to a video service would also get access to shows online. Cable, phone, or satellite subscribers would go to any Web site where the networks put their shows, sign in, and be able to view the programs on their laptops or mobile phones."

Bewkes pointed to Time Warner's test in Wisconsin that allows HBO subscribers to watch its TV shows and movies on any Internet connected device as proof that "TV Everywhere" will work. "HBO has been our acid test," he said. "To have this thing up and running already proves how simple it can be. And by putting more shows on the Web, programmers will have more clout to increase the number of ads that run with them."

Read the whole story at BusinessWeek »