You've got malaise!: Analysts expect bad 2002 earnings forecast from AOL Time Warner. (Top of the Week).(Brief Article)

Broadcasting & Cable, January, 2002 by Higgins, John M.

Wall Street's media players are bracing for another round of bad news today, this time from AOL Time Warner, which is scheduled to issue an earnings forecast for the new year. Several analysts are anticipating bad news and have revised their earnings forecasts downward. Morgan Stanley's Rich Bilotti and Mary Meek trimmed expected 2002 cash-flow growth from 15% to just 8% Sanford Bernstein media analyst Tom Wolzien cut his 2002 estimate from $11.6 billion to $10 billion.

One continuing problem is ad sales at the Turner cable networks. Bilotti sees the basic networks' total ad revenue dropping about $100 million, to $2.4 billion, despite ratings gains. AOL wouldn't detail what new CEO Richard Parsons will disclose on the call. AOL's briefing...

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