If Time Warner is able to “spin” AOL and split it form the mother ship, Time Warner earning projections should double from 2009 - 2012 says DealBook. Read here for the details and hefty plans of the corporate world…

Mr. Nathanson said by separating AOL, Time Warner would double its estimated earnings growth from 2009 to 2012. He estimates that AOL would be valued at $2.4 billion on a stand-alone basis, a far cry from some estimates of up to $10 billion last year.

And with the extra cash Time Warner may look to some bargain hunting, Variety speculated. One fund manager told the publication that Electronic Arts and Take-Two Interactive, the video game companies, could be attractive to the media conglomerate “because the stocks are cheap and it’s the fastest-growing industry in the media field. And I think it makes more sense to buy rather than build.