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Profile of the Week: AOL Time Warner

Published on .

AOL Time Warner shares climbed as company management, at the first shareholders meeting since the January merger of America Online and Time Warner, expressed confidence it would meet its 2001 forecast of $11 billion in cash flow and $40 billion in revenue. They also said AOL Time Warner intends to generate more revenue from outside the U.S., but gave no details on overseas plans. Separately, the company said it posted $965 million in first-quarter charges, reflecting severance costs for laid-off workers and closings at the Warner Bros. store unit. In trading Friday, AOL Time War-ner closed at $54.43, up 5.48% for the week.
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