Hamsterdance Poised to Buy
AOL Time Warner
New York City, NY | Wall Street was momentarily bolstered this week after a rumored bail-out of beleaguered AOL Time Warner by internet mega-site Hamsterdance.com was verified.
The plummeting value of AOLTW shares over past months has made the sinking ship a prime target for corporate raiders. But instead, Hamsterdance is being welcomed as a "White Knight" by most stock analysts.
Under the Hamsterdance proposal, all unprofitably divisions - specifically Warner Bros. Studios, Time-Life Magazines & Books Division, Time-Warner Cable, Turner Broadcasting, New Line Cinema, Warner Music Group, HBO and America Online - would be sold off to raise capital and reduce debt.
The offer has yet to be given a green light by the Securities and Trade Commission. But most market watchers have little doubt such a deal would be overwhelmingly approved by haggard AOLTW shareholders.
