Time Warner optimistic about AOL business

Time Warner has said in a statement that they are serious about turning around the business at their internet division AOL which is losing customers at a faster pace than expected.

AOL is losing their dialup customers to alternative ISPs who provide faster internet connectivity using newer technologies at affordable rates.

AOL is also concentrating on improving their online services to gain revenues from online advertisements and other medium.

CEO Richard Parsons said in a statement: “We are committed to completing the transformation of AOL.” He was speaking at the close of Time Warner’s annual shareholder meeting in Atlanta.

Investors in the company had asked whether Time Warner was considering spinning off the AOL division to lessen the losses at the parent company.

Parsons added: AOL “is in a space that the marketplace thinks is contracting and needs to migrate its business to another part of the Internet landscape where the market is growing. Our plans are to see that journey through. I think that if we do that, the market and the stock will react very very positively.”