Free Republic

NEW YORK (CBS.MW) -- AOL Time Warner, the world's largest media and Internet company, may sell its three sports franchises to bolster its financial position, its chief executive officer said. AOL spokeswoman Tricia Primrose confirmed Monday that CEO Richard Parsons had told securities analysts Friday the company is searching for ways to strengthen its balance sheet, and offered up the sports teams "as an example of a non-core asset." However, Primrose stressed that "no discussions" are under way for such a sale. AOL, whose stock has fallen 63 percent in the past year, is under pressure to boost revenue and...