| DON'T BUY | 15.880 | Charles Bobrinskoy | His company doesn't like the movie business. He owns Disney (DIS-N) because of ESP and theme parks. Movie business is a classic “no barrier to entry” business. Historically it hasn't been a very good business. | 2008-08-27 | |
| BUY | 14.690 | Pat Naccarato | A company that will probably go down in history as having made the worst acquisition ever. Bought AOL at the top and has had a hangover affect ever since. As a result of the 5 years of the stock doing nothing, the valuation has finally caught up with itself. Much more attractive than it has ever been. | 2008-04-07 | |
| BUY | 18.320 | Jeff Parent | At its long-term support. Broke out of its long-term support in 2006, fell back, recovered but did not make a new high, so is not in a long-term trend. Because of the volume, the drop and the panic, value investors are coming in looking for the $21 level. A definite sell point would be $17.50. | 2007-08-15 | |
| HOLD | 21.150 | John Zechner | Nothing new or exciting happening in the next year. Have to add a few parts to the package in addition to what they did with AOL. Balance sheet is a little bit stretched. Sum of the parts is worth more than the existing stock. Doesn't think there's much downside. | 2007-04-25 | |
| TOP PICK | 20.880 | Paul Harris, CFA | Made the right decision with AOL. Cable business is doing very well. Publishing business will be OK. Great potential for growth. Undervalued. | 2007-04-23 | |
| PAST TOP PICK | 21.000 | Paul Harris, CFA | (A Top Pick Oct 406. Up 13.1%.) Still likes it. Their cable business is fantastic. | 2007-04-12 | |
| SELL | 21.010 | David Baskin | Doesn't see a huge future for this company. The home media sector is changing so quickly that the ink on paper sector is being left behind. | 2007-04-09 | |
| BUY | 19.720 | John O'Connell, CFA | Bought a great growth story and has paid the price ever since. Expects AOL will get turf out and the markets will react positively to it. Have great franchises and wonderful businesses. | 2007-03-30 | |
| BUY | 20.180 | Gavin Graham | Much better off than the telcos. Fibre optics gives much more capacity. Good cash flow and they are paying down debt. Possibly selling off AOL. | 2007-03-26 | |
| DON'T BUY | 19.450 | David Baskin | Not crazy about this stock. Made the single worst acquisition in the history of corporate America and never really recovered. The whole AOL model is really under question. A lot of uncertainties about its future. | 2007-03-14 | |
| DON'T BUY | 21.280 | Jonathen Wellum, B. Comm, B. Sc | A lot of the media companies have lagged the market from about 2002 until about 6 months ago. Great cash flow generator. This one has a large music component to it and this is under a lot of pressure with competition. Prefers others. | 2007-02-09 | |
| BUY | 22.730 | Paul Harris, CFA | This is a franchise that is undervalued. Management did a very good job of changing the company. Their move to an advertising model makes a lot of sense. Cable business is doing very well. | 2007-01-15 | |
| TOP PICK | 21.300 | Paul Harris, CFA | Did the right thing with AOL, which will make a difference in their overall earnings. Although the magazine business is not doing as well, cable is doing incredibly well. Movie season next year should be very good. | 2006-12-12 | |
| TOP PICK | 20.140 | Paul Harris, CFA | Likes what they did with AOL, making it a free service. Cable is doing incredibly well. Movie business is OK, but some big potentials for next year. | 2006-11-30 | |
| WAIT | 19.120 | Larry Berman CFA, CMT, CTA | There has been a shift in the last couple of months where the consumer cyclical type stocks have been out of favour and have all come back. Wouldn't chase it. Longer term patterns are improving for this company. Wait for $18. | 2006-10-11 | |
| TOP PICK | 18.570 | Paul Harris, CFA | Making advertising free on AOL makes a lot of sense. Good management. Has under performed most of the media stocks, but expects it to outperform. | 2006-10-04 | |
| DON'T BUY | 15.840 | Brad Willock | Not a fan of this company. Would prefer Disney (DSN-N). With the AOL property, they just don't have as much going for them. Doesn't like this sector that well. | 2006-08-09 | |
| WEAK BUY | 17.200 | Gavin Graham | Five-year return -66.6%. If you own, you've lost 2/3 of your money in the last five years. With its cable business, it is starting to make up for all the weaknesses in its print media. | 2006-06-12 | |
| HOLD | 18.350 | Brad Willock | AOL assets and the media assets are worth quite a bit but wouldn't expect a huge home run out of this company. | 2006-02-09 | |
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| DON'T BUY | 17.760 | Brad Willock | Their AOL asset is a decent asset but the Time/Warner property is part of their problem. Large TV networks advertising is a difficult model to run and their CBS is no exception. The whole media sector, television, newspapers and radio is undergoing a tremendous transformation. Internet assets are growing at their expense. | 2005-11-14 | |
| DON'T BUY | 16.780 | Brian Acker, CA | Model price is $16.62, so its right on the model price. | 2005-06-09 | |
| TOP PICK | 17.260 | Danny Tomka | In tough markets, focusing on companies that have strong enduring assets producing strong cash flow. Sales of about $44 billion and about $8 billion in cash flow. Good TV assets, cable network, movie production, etc. Their AOL has 20 million users which creates $8 billion of business and has $2 billion of cash flow. In decline, but they are trying to migrate to an advertising portal. | 2005-06-02 | |
| BUY | 18.030 | George Loughery | The big media companies are out of favour, so they bought them as contrarian holdings. | 2005-03-15 | |
| TOP PICK | 18.150 | Danny Tomka | Have an excellent collection of assets such as cable, TV production, film, AOL and great print assets. Valuation is very attractive. 9.6 X EBITDA. | 2005-01-26 | |
| BUY | 18.590 | George Loughery | CEO's head is on the line and if he doesn't do well, that's the end of him, so he has an incentive to improve things quickly. The company's out of its financial handcuffs. May take a run at Google. | 2005-01-21 | |
| BUY | 18.910 | Norman Levine | The worst is now behind it and prospects are looking up. Motion picture side looks good. Less dependent on advertising business compared to their competitors. Advertising will probably be soft this year. Still has some overhang on accounting. Risk/reward is good. | 2005-01-05 | |
| DON'T BUY | 17.460 | David Baskin | Not a fan. Doesn't think that it's a terrific growth story going forward. Reasonable assets. | 2004-11-22 | |
| TOP PICK | 16.330 | Barbara Marcin | A company that has returned to its core franchise. AOL has now stabilized. Advertising revenues are growing strongly. Generating good cash. | 2004-10-15 | |
| DON'T BUY | 16.650 | John Sinkins, CFA | Interested in the media sector now. Earnings were generally fairly good. Valuation is starting to come in line but still a little pricey. | 2004-07-28 | |
| WAIT | 17.420 | Paul O'Neil | AOL is still an issue with investor's and until it gets cleared up, the stock will remain stagnant. A great business. | 2004-06-24 | |
| DON'T BUY | 18.170 | David Baskin | The jury is still out on the long term synergies. Really questions if the AOL part of the business is worthwhile. | 2004-01-07 | |
Experts that have talked about Time Warner Inc
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