Icahn, Time Warner: Not Just Fishing Expedition

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So Carl Icahn wants to try to force Time Warner(TWX Quote) to break up, perhaps by spinning off the cable and publishing companies. This kind of effort always offers plenty of intriguing subplots. Today, I want to break down whom Icahn really wants on his side, and then analyze the prospects for this activist effort, which looks like a winner in almost any outcome.

Chasing Big Game

The various articles that have been written have noted that he owns only 0.1% of the company and that he might try to pursue other shareholders, such as Ted Turner. However, this morning The Wall Street Journal reported that Turner is not part of Icahn's group. ...