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Friday, August 12, 2005 

More Carl Icahn

More AOL, Icahn stuff (from reuters via aol news)

NEW YORK (Reuters) - Billionaire investor Carl Icahn and several hedge funds are expected to file with U.S. regulators their plans to improve the performance of Time Warner Inc. (TWX.N), The Los Angeles Times reported on Friday.

The newspaper quoted Wall Street sources as saying Icahn was preparing to inform the U.S. Securities and Exchange Commission as early as Friday in a filing that he had assembled a group of Time Warner shareholders holding more than 5 percent of the company's stock.


In the filing, Icahn is expected to call for Time Warner, the world's largest media company, to expand a stock buyback plan by $10 billion to $20 billion and to radically reduce its costs, according to the newspaper.

He could also push for the sale or spinoff by New York-based Time Warner of its cable, publishing and America Online groups, the newspaper reported.

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