Business Services Industry
Goldman Sachs Starts AOL Time Warner Coverage
Communications Today, March 7, 2003
Investment firm Goldman Sachs on Thursday initiated coverage of AOL Time Warner [NYSE: AOL] with an "underperform" rating, citing sub-par business trends in the sector and that six of the company's businesses were experiencing deteriorating trends. Earlier this week, AOL Time Warner disclosed plans to sell $2 billion to $4 billion in assets to help pare debt and that an initial public offering of its cable unit could take place by the end of the second quarter or late summer.
[Copyright 2003 PBI Media, LLC. All rights reserved.]
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