SOME AOL/TW DOUBTS.(AOL Time Warner's revenues and cash flow)(Brief Article)

Broadcasting & Cable, August, 2001

Two influential analysts are questioning AOL Time Warner's ability to keep financial promises, cutting their forecast for the company's revenues and cash flow. Morgan Stanley's Richard Bilotti and Mary Meeker said that AOL's heavily touted target of $40 billion in sales and $11 billion cash flow for the full year "have a very low likelihood of being achieved." AOL's Steve Case and Jerry Levin have hammered home those numbers to justify AOL's takeover of Time Warner.

An AOL spokesman said simply, "We have not changed our guidance" on performance for the rest of the year.