AOL in Talks to Sell Cable Channel Stakes
AOL Time Warner Inc. is in talks to sell its 50% stakes in cable channels Comedy Central and Court TV to pare down debt, Chief Financial Officer Wayne Pace said.
Comedy Central is a joint venture of AOL Time Warner and Viacom Inc. Court TV is a 50-50 joint venture of AOL Time Warner and Liberty Media Corp. Both Viacom and Liberty declined to comment.
Analysts pegged the value of the networks, which have more than 70 million subscribers apiece, at about $2 billion each. .
AOL shares were up 6 cents to $11.91 on the New York Stock Exchange.
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