AOL Time Warner finds a winner in 'aggressive' approach

NEWS But the company still turned in a loss, as it pays off the costs of the biggest-ever, $106bn, merger. AOL contributed ad revenues up 37 per cent at $721m for the quarter with subscriptions up nine per cent at $1.25bn and 2 million new subscribers - bringing the worldwide total to 29 million. John Levin, chief executive of the group, called the quarter 'outstanding' and said in a statement: "We are aggressively rolling out next-generation products and services that will fuel continued growth momentum in our subscription and advertising and commerce activities." The media conglomerate's pre-tax and charges profit was up 20 per cent to $2.1bn for the quarter on revenue up nine per cent to $9.1bn. However, it declared a net loss of $1.4bn. The company boosted its digital cable subscribers by 249 per cent to 2.1 million.