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AOL Time Warner to offer stock options to Turner India staff

16-May-2002
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AOL Time Warner to offer stock options to Turner India staff

AOL Time Warner Inc has decided to give stock options to its employees of Turner International India. The options have been given to executive level employees and these options will be over and above their salaries. There are close to about 30-40 people employed with Turner International India.

According to industry analysts, this move was an indication of AOL Time Warner’s long-term commitment towards India and to give its Indian employees a chance to participate in its future growth prospects.

However, the stock price of AOL Time Warner in the US markets has not been performing well. The stock is down more than 26 per cent this year and 42 per cent over the past 12 months. In this context media analysts were skeptical over the response to the stock options.

The employees of Turner International India who were part of the distribution team have now become a part of the Zee Turner company. Market sources indicate that these employees who have now become a part of the new joint venture company will not be a applicable for the stock options.

At present, AOL Time Warner’s market value is $105 billion, and according to analysts there is every reason to suspect it could fall further after the company has announced its first quarter results.

Source: Business Standard

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