Time Warner Discusses AOL, Internet Ads and Global Expansion (TWX)

Time Warner (ticker: TWX) CEO Dick Parsons presented at Goldman Sachs Global Investment Research Communacopia XIV Conference, September 21st. Here's an extract from his comments about AOL:

I'd say we are missing one thing, and that is… how you monetize eyeballs on the Web…

Right now, while… we don't need to own our own search technology, we do need to put ourselves in the position where we can present to advertisers the full range of opportunities on the Web, so that we need not only to do display ads, but paid search or click-through ads as well as result-based ads. We have one in three now. We need to figure out how to plug that middle gap.

And then we need to further expand our reach outside the U.S. Right now, in the United States, second only to Yahoo, we have the largest number of sort of unique users on a monthly basis of any of the Web-based companies.

Where we fall short is overseas. One of the reasons for moving to the portal strategy was – you… unlock yourself from your subscription or your access footprint, and you can access the entire globe. So we need to move that strategy forward as quickly as possible. And it will take some investment, but not that much, actually; not more than we have been putting into that business.

(Quotes are from the CCBN StreetEvents transcript.)

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