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Parsons: AOL Would Compete with Yahoo, Google in Portal Space

Authored by Mark Hefflinger on September 21, 2005 - 9:00am.
Dulles, Va. -- Time Warner CEO Richard Parsons on Wednesday sidestepped questions about the potential sale of its America Online unit, instead telling an audience of investors that turning around the company's struggling Internet arm is the key to increasing shareholder value. While Parsons admitted that Time Warner has entertained the notion of spinning off AOL, he downplayed the possibility and called AOL the company's "No. 1 point of focus" because of its strong growth potential, Dow Jones Newswires reported. Parsons declined to discuss reports that software giant Microsoft is in talks to buy a major stake in AOL. Parsons said that plans for AOL include transforming it from an ISP into a major web portal that would compete against the likes of Google and Yahoo.
tags: Yahoo | AOL | Google | Parsons | Compete | Portal Space |