Icahn Wants to See Time Warner Split

Updated from 10:13 a.m.

Time Warner's (TWX Quote) most vocal restive shareholder, Carl Icahn, demanded Monday that the company take action to boost its flagging stock.

Icahn said Time Warner should separate its cable systems from its content businesses and buy back much more stock. Chiding the big media company for not moving "quickly enough" to boost shareholder value, Icahn said he and his friends are on their way to owning $4 billion worth of the company's stock. That's notable, because at recent prices a stake of that size would give the group around 5% of the company, an important threshold for various legal and regulatory reasons. ...