MediaPost reminds us (reg req’d) that thanks to some early deals via AOL (hey, smart acquisition), Time Warner now owns 8% of Google, making it the third largest outside owner. Strategic? Nope, say TW brass.
TIME WARNER NOW HOLDS AN 8 percent stake in Google, according to information filed with the Securities and Exchange Commission on Friday. In Time Warner’s fourth quarter 2004 earnings report released this morning, the company said it “does not consider its remaining interest in Google to be a strategic investment,” but the position makes Time Warner the third largest outside investor in Google after two big fund managers.