Meanwhile, Time Warner investor Carl Icahn is attempting a shareholder mutiny. He would rather see the media conglomerate restructured and, perhaps, its AOL unit spun-off. Icahn has made his billions
by pushing companies to buy back shares or spin off assets in order to bring more value to shareholders. He owns about 3 percent of Time Warner, and is hoping to enlist the support of other
shareholders through the recent hiring of the investment bank Lazard. Time Warner Chief Executive Dick Parsons responded to Icahn's public displays of dissent, calling the Lazard hiring evidence that
he doesn't have any "great ideas." Expect the bitter, personal, and fascinating contest to take a new turn once Time Warner announces its AOL partner.
Read the whole story at Financial Times »
