Expect Shakeups at Time Warner

Jeff Bewkes, Time Warner's new CEO, is already making noise about cutting costs and restructuring the business, according to the Wall Street Journal. Because that includes Time Inc., you can expect that the changes going on will affect all parts of the company, including any clients you have there. Here are some of the likely actions so far:

• Separate AOL's operations from the rest of the company, for a potential sale.


• Consider reducing the percentage of ownership of Time Warner Cable.


• Possibly merge New Line Cinema with Warner Bros.


• Headquarter cost cuts of 15 percent.


• Focusing on digital opportunities for the television and publishing businesses.

What's driving these changes is stock performance:

Still, investors applauded his approach. In 4 p.m. New York Stock Exchange composite trading, Time Warner shares rose 31 cents, or 2%, to $15.71. Time Warner's shares have sunk this year to levels not seen since 2003, when the company was still reeling from its disastrous AOL merger.