Time Warner’s Quarterly Profit Nearly Triples – washingtonpost.com:

In a conference call with investors today, Time Warner chief executive Richard D. Parsons and others said their strategy of changing AOL into a free service, supported by advertising, had produced a 46 percent jump in ad revenue and the successful “migration” of millions of AOL users to free accounts. They said the company was close to beginning to increase the amount of overall traffic to its Web sites — critical if its ad revenue is to continue growing.



While overall revenue at AOL declined 3 percent, to $2 billion, for the three months that ended in September, advertising revenue increased by $151 million, to $479 million.