Friday, April 26, 2002

AOL's thinking of spinning off its cable systems. It's having problems with AT&T which owns 25% of Time Warner Entertainment and Newhouse Publications that owns 33% of its cable systems. Too many people own big chunks of AOL and they're trying to simplify. If they traded AT&T that 25% of TWE for a like-sized piece of the cable business and then took that public, AT&T would be able to sell off their share and get their money. Otherwise, AOL, which already has $28 million in debt would need to write a check to AT&T for $10 million. And that doesn't even really address the Newhouse's and their unhappiness with AOL...

And news I'm really excited about... housing sales are finally dropping...

A co-worker needed old ads to put into a newspaper his son is doing as a class project, so I typed "old ads" into Google (the best search engine ever!) and found this great site.
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