Anchor: Dick Parsons' primary objective in putting together this deal was to make sure that he was securing Time Warner's future. And you know you can't talk about the futrue of media companies these days without looking to the Internet. That's why this deal is so important and if you hear it from Parsons himself, he will tell you that this partnership is going to expand with time.

Dick Parsons: We know, you know, virtually everybody knows at some point of time all of the stuff that we do and have done in the past , the moives, the television, even a lot of the content in our magzine, all that's gonna be available online one day. Um, under what business model? We don't currently know, how, who's distributing, how the rights all work, what the, what the splits are, we don't know yet, but we all have to be out there experimenting, trying to open up that new channel of distribution. So the, the nature of the partnership we've just created with Google is going to create first of all a platform to get all of the AOL video content online. We've got a partner in the sort of video search business and that platform will then serve down the road as a, as a platform for the rest of the Time Warner content , so that this is, this is the first step and an inevitable process of taking this huge libraries of, of...motion pictures, of television, of animation and of text-based information to the Internet.

Anchor: But you are saying baby steps?

Dick Parsons: I'm saying steps.

Anchor: Steps along the way?

Dick Parsons: Yeah. I agree with you.

Anchor: When might we see that? When might we be able to see some of the AOL moive or the Time Warner movies?

Dick Parsons: I think sooner, ur sooner than you might anticipate, but I'm not in a position to make , to preannounce anything at this point.

Anchor: Ok, but if I thought soon was two years or may be sooner?

Dick Parsons: Oh, sooner than that.

Anchor: I also asked Parsons about comments from activist shareholder Carl Icahn who has pened this deal.

Dick Parsons: I try to deal with all our shareholders, and particularly the larger ones, um, in the same fashion. Um, you hear their ideas, ur, you evaluate their ideas and when you think they have something, ideas that they are gonna add in value actually when you don't do, eh, you don't act at once.

Anchor: Parsons says he has not spoken with Icahn this week, oh, and by the way, when you ask him, Parsons will tell you that he thinks Time Warner shares are screaming buy.