AOL Drops Sale of Books Division
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AOL Time Warner Inc. said it has scrapped plans to sell its book publishing division after months of seeking a buyer and failing to find an attractive bid.
A sale of the books division, which includes Little, Brown & Co. and Warner Books, had been part of the company’s efforts to cut net debt from $26 billion last quarter to $20 billion by the end of 2004.
Shares of AOL fell 15 cents to $15.38 on the NYSE.
From Reuters
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