Time Warner, Inc. (NYSE:TWX)

kristm (99.75) Submitted: 11/3/2006 12:46:43 AM : Start Price: $47.29 TWX Score: +28.76

This company never fails to not impress. In the last 30 years they've blown enough opportunities for any ten similar size companies. They lost control over portions of their film library in the mid-20th century and had to buy out Turner to get it all back. They sold Atari for pennies on the dollar compared to what it would be worth now (think Sony-type synergy). Also passed up a chance to help Atari's founder create the company that became Chuck E Cheese. Pathfinder could have been a top-ten Web destination if TWX had stuck with it back in the day. Online content from magazines, television, and movies has not been integrated with AOL the way it was supposed to when the two companies merged. And selling the WB music company blew their chance to integrate it with AOL to form a challenger to Apple and iTunes. Without decent integration and synergy, the individual parts of TWX are worth much more on their own than they are tied together.