Time Warner CEO Says AOL’s Sale Deal Justifies Split

Financial Times: When Jeff Bewkes woke up to news of AOL’s sale to Verizon on Tuesday, he felt vindicated. The Time Warner CEO spun AOL out as an independent company five years ago as part of a streamlining process that also included spinning off Time Warner Cable and Time Inc. Now that Verizon has agreed to pay $4.4 billion for AOL, Bewkes said the deal “validates what we thought.” At the time, he was convinced AOL was worth more as an autonomous entity. “It’s now, mark to market, more than twice the value than when we spun it out.”