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Miller makes case for AOL
CEO tries to convince Time Warner that No. 1 ISP is worth keeping despite drop in subscribers.
April 22, 2004: 1:14 PM EDT
By Fred Katayama, CNNfn correspondent

NEW YORK (CNN/Money) - AOL chief executive Jonathan Miller tried to convince Time Warner directors Thursday that the world's biggest Internet service provider is still a growth business, and the board's response was "engaged" and "fairly positive," according to a person familiar with the situation.

Miller's presentation to the Time Warner board lasted about an hour Thursday morning.

Analysts have said Miller needs to convince Time Warner (TWX: up $0.20 to $16.99, Research, Estimates) that the AOL unit is worth keeping despite the sharp drop last year in subscribers for its dial-up online service.

Miller's strategic plan calls for AOL to make some of its content available free to non-AOL subscribers so that it can pull in more visitors to its Web site in a bid to boost ad revenue, the source said.

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AOL lost more than 3 million subscribers last year to its dial-up service, but Miller is expected to say that AOL can manage that decline by growing its advertising, broadband and international businesses.

AOL's higher-priced broadband service added 1.8 million subscribers last year.

Miller, 47, who previously worked for hard-charging Barry Diller at USA Networks, joined AOL in late 2002 with a mandate to resuscitate the business.

In 2003, AOL created a separate, lower-priced service that offered more videos and music, but which required subscribers to already have a high-speed Internet connection.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.