AOL, Viacom ponder Comedy sale

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Sources said AOL Time Warner Inc. and Viacom Inc. have agreed to talk about a
possible sale of jointly owned Comedy Central (either to Viacom or a third
party).

At this point, it's very early in the process and "definitely not a slam
dunk," according to one source familiar with the situation.

Neither company would comment.

AOL Time warner is still assessing the network's value and has not yet come up with a price, sources
said.

Some analysts value Comedy at about $1.6 billion, while others put it north
of $2 billion.

Sources familiar with the situation said Viacom executives expect AOL Time Warner to come
up with a price that is too high, at least for Viacom.

AOL Time Warner doesn't necessarily want to part with Comedy Central or other prized
assets, like Courtroom Television Network (co-owned with Liberty Media Corp.), but it needs to help pay down
its hefty debt.

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