Renegade shareholder Carl Icahn, pushing for a breakup of Time Warner, will propose merging AOL and entertainment businesses with smaller Internet portals, reports WSJ. Ichan has held talks with the portal companies, but it is not believed to be Yahoo (plus Yahoo is not small).
He wants to merge AOL, Warner Bros. Entertainment, New Line Cinema, Home Box Office and the Turner cable networks, together with the smaller portals.
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