Wednesday - April 30, 2008
Media giant Time Warner plans to sell off its remaining 84 percent stake in its recently spun-off cable company. The company unveiled the strategy as it posted weaker profit and its AOL Web portal grew modestly in advertising revenue. Time Warner said net profit for the first quarter was $771 million, or 21 cents per share, down 36 percent from the $1.2 billion posted in the same quarter a year ago.
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