July 2007
Multichannel News;7/23/2007, Vol. 28 Issue 29, p58
The article reports that Street will monitor the advertising performance of America Online (AOL). Michael Morris, UBS Securities media analyst, preserved his buy rating and $25 12-month price target on Time Warner Inc. Although the shift of AOL from a subscription-based business to an advertising-based model has been encouraging, increase in competition prompted Morris to reduce advertising growth estimate from 28 percent to 25 percent.


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