Soundview: "There are two new looming issues. The investigation into AOL's accounting and the dramatic decrease in the growth of new subscribers at AOL."

Get ready for AOL to crash. Existing subscribers are leaving the network and no one is coming to replace them. Since AOLTW is maneuvering to sell off its stake in cable, there's little hope that AOL can migrate heavily into broadband service. The end is near. It's only a matter of time. The sooner that the TW content businesses can divest themselves of AOL, the better off they'll be. For now, they seem to be repeating the RBOCs' losing strategy of relying on an outdated, unprofitable line of business for essential cash flow.