I wonder if they will be breaking back apart or just consolidating the advertising and media content provider (AOL and Cable Channels). I wouldn’t proclaim their death, yet. I think this was a one time big write down to go a head with a “fresh start”. Their service provider (Cable/Internet/Phone) end probably still makes good money.
The cable/internet component (TWC) is being spun off from the rest of the company (TWX). The old company will eventually fade away with the rest of the dinosaurs.