Of the accomplishments that Jeff Bewkes brings to his new senior management duties at AOL Time Warner, none matter more than the results he produced at HBO, both in terms of profits and such intangibles as prestige, cultural influence and public awareness. Unlike most other networks, HBO owns the creative rights to its shows. HBO is accustomed to eclipsing the broadcast networks. In the last four years, no institution across the range of the entertainment industry has been more talked about, written about, imitated and emulated than HBO. "HBO is unassailable. Nobody can question it." HBO is now the gold standard of television programming. The hero-worship that was once focused on "The Sopranos" has expanded to encompass the entire HBO enterprise. As investors fret over the widespread troubles at AOL Time Warner, they point to the shining beacon of media perfection that is HBO. And so they rest easy, enjoying themselves in front of the television. Hey, if the market fails, there's always gangsterism, right? If Media Is Really AOL's Oyster, Its Biggest Pearl Is Clearly HBO | 
