AOL Belle of The Ball?

Carl Icahn, the great pillager of airlines, seems to have it for Time Warner. The corporate raider who is as savvy about the post-broadband landscape as David Hasselhof is about rap music, wants Time Warner to sell off its cable assets, and get rid of AOL. Never mind that his last effort at such meddling didn’t go down so well.

Question: if AOL was such a dog, why would not one but three suitors, all flush with cash line-up to get a piece of the action? Microsoft, Google and Comcast are all interested in working out a deal where they can get a piece of AOL. The New York Times says ever wily old fox, Rupert Murdoch was interested in getting in on the AOL action,

Time Warner, I hope doesn’t fall prey to the “management by Wall Street” syndrome. I remember another great company, AT&T, that paid too much attention to some of the dimwits in downtown Manhattan. Instead, it would be wise to pay attention to Rupert Murdoch, and his recent forays into broadband and the Internet world. The man is borrowing money to get aboard the always on bandwagon. I think if there is one eternal truth about the media landscape, it is Rupert’s ability to see around the corner. Time Warner’s future is with AOL, and not without it.

(Disclosure: I work for Business 2.0 magazine, which like AOL is owned by Time Warner.)