The world’s biggest media-entertainment group is to be known as Time Warner, dropping AOL from the company name, the board of directors said on Friday. The change for AOL Time Warner reflects a reassertion of the old-media dominance after the 2000 merger engineered by Internet giant America Online. The company expects to complete the name change process — including adoption of the former ‘TWX’ ticker symbol on the New York Stock Exchange (NYSE) instead of AOL —in a few weeks. ‘‘We believe that our new name reflects better the portfolio of our valuable businesses and ends any confusion between our corporate name and the America Online brand name for our investors, partners and the public,’’ chairman and chief executive Dick Parsons said. ‘‘Today, all of our businesses—from America Online, Warner Bros Entertainment, New Line Cinema, TBS and CNN to Time Warner Cable, HBO, Time Inc, the WB and Warner Music Group — are making important contributions to the whole company.’’ AOL used its share price at the height of the Internet boom to acquire Time Warner, which had been a bigger company. In the past year, most of the key leadership positions have been taken over by former Time Warner executives. “We need the freedom to let the brand name AOL stand once again on its own,” CEO of AOL Jonathan F. Miller said.
