He's trying to increase his leverage on Time Warner, trying to force them to do something a little more drastic than they appear willing to do.

This is a situation that both sides would be satisfied with.

Mr. Parsons has laid out a very good strategy. The film unit created the upside surprise. It's really a motion picture story in the quarter.

We were very encouraged to see profit up at AOL, even though revenue was down.

I saw it as a very upbeat report. There is no fundamental reason for investors to be selling.

It would resolve a sticking point of who owns the copyright of pictures going forward, and that might still be somewhat of a sticky issue.

It might be part of a broader gaming strategy. Maybe his next acquisition will be some sort of video-game company.

I don't see any great plan to actually enhance the value of Time Warner in the long term.

All of the media companies are interested in the Internet. They have to go where the advertiser dollars are going.