New York, Sept 19: The world's biggest media-entertainment group is reverting to the name Time Warner, dropping AOL, the company has said, symbolically undoing the spectacular takeover three years ago by America online during the internet boom. The change for AOL Time Warner reflects a reassertion of the old-media dominance after the 2000 merger engineered by internet giant America Online, which was one of the most prominent "new economy" companies. The company expects to complete the name change process - including adoption of the former "TWX" ticker symbol on the New York Stock Exchange instead of AOL - in the next few weeks. AOL used its share price at the height of the internet boom to acquire Time Warner, which had been a much bigger company with stakes in Hollywood, television and publishing.
Bureau Report