Conducting his first conference call with analysts since assuming the reins at Time Warner (TW), TW CEO Jeff Bewkes laid out the road map for TW’s future, which includes the division of AOL’s online access and advertising businesses, various cost-cutting initiatives, and the potential restructuring of TW’s 84% stake in Time Warner Cable (TWC). Bewkes—who began his tenure at TW a month ago—described the AOL split-up as “one of our top priorities” as he noted that the move “should significantly increase AOL’s strategic options for each of these businesses.” By separating AOL’s Internet access business from its advertising business, TW hopes to shift its focus toward increasing page views at AOL’s popular web portal with the goal of boosting ad revenues for AOL. Proclaiming that, “cost management has to be a continual process and mindset at every level of our company,” Bewkes confirmed that TW would also slash annual corporate expenses by at least 15%, or by $50 million per year. Bewkes also told analysts that the structure of TW’s stake in TWC is “less than optimal for both companies” and confirmed that TW is currently engaged in discussions about its TWC holding that it hopes to wrap up by the end of April. While stressing that TW remains as a leader in many of its lines of business, Bewkes nevertheless warned investors that, “the danger of prior success for us is complacency.”