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Eventually, Time Warner (NYSE: TWX) will just be Warner Brothers, HBO, and Turner Networks, says Gordon Crawford, managing director of The Capital Group.
Why does this guy's opinion matter? Well, his company is Time Warner's biggest shareholder. He sees the coming divestiture of AOL (to which BloggingStocks belongs) as part of a broader effort that will eventually include the sale of its print division.
According to Reuters, he continued, "Now, they will make acquisitions ... but they're probably going to buy just stuff in their wheel house of those businesses. They're not going to, I don't think, go very far afield from their core competency." Crawford made this remark at a discussion titled "The Art of the Long View: The Media Company of 2020" at the University of Southern California's Annenberg School for Communication on Thursday.
Time Warner's magazine portfolio includes People, Sports Illustrated, and, of course, Time. Time Inc. is the largest magazine publisher in the United States and sustained a second quarter revenue hit of 22%, with advertising revenue off 26%. For the quarter, the division's revenue reached $915 million.
Crawford's perspective is consistent with AOL CEO Tim Armstrong's remarks in his first interview since taking the helm, in which he explained that Time Warner is focused on growing in the video and broadcast space.
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