Time Warner CEO Bewkes: ‘No Plans To Sell Bebo’; So Now It’s Official
Spokespeople for Bebo itself, then AOL (NYSE: TWX), then Time Warner had already denied the portal could hastily sell on the social net within a year of the $850 million acquisition. Now another refutation, this time from the highest level - Time Warner CEO Jeff Bewkes, on his company’s Q4 earnings call today: “We don’t plan to sell Bebo.”
SEE ALSO: Bebo Co-Founder: AOL Sale Would Be ‘Mildly Disappointing’
Bewkes added AOL had launched and would continue to launch new products based around Bebo, made integrated a lot of AOL products in to Bebo (ie. AIM profiles and chat), had launched a new homepage and will continue integrating Bebo in to AOL properties throughout 2009.
After rumours in recent months, TCUK last week went with the story AOL already wants rid of Bebo despite much advertising promise, just 11 months after buying it. We understand it’s true AOL realised quite soon it paid a hefty price for the youth-oriented social network, but the company is now on record, multiple times and on at several levels, that no sell-off is planned. Still worth keeping a watching brief on this one, however…
Read my colleague Rory Maher’s full coverage of Time Warner’s Q4 results, Bewkes’ earnings call and the Google issue over at paidContent.org.
Posted In: Companies, AOL, Bebo, Time Warner, jeff bewkes
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