Icahn Threatens TW Board Over AOL

Carl Icahn follows his hiring of Lazard as a strategic advisor in plotting the overhaul of Time Warner with a warning to the company’s board at a meeting of the New York Society of Security Analysts. Icahn via Reuters: “I’m going to hold the board of Time Warner personally responsible if they give away AOL for the wrong reasons. … Time Warner has not allowed certain people to come to the table” to look at buying AOL or doing a deal with America Online.” He said potential suitors have been turned away from bidding for AOL or possibly other major assets.
Not sure what set him off. There’s been talk that TW refused possible deals based on internet stock; also TW management has talked about maintaining control in any deal.

Update: More from Dow Jones: Icahn asked analysts to “join with me in this crusade.” TW had no comment today; after the Lazard announcement, the company said “confident that we are taking the right steps to deliver sustained value and a highly competitive return to all our shareholders.”

Related: Icahn Group Cranks Up Pressure On TW By Hiring Lazard

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