When Time Warner reports its second -quarter earnings tomorrow morning, before the markets open, most Wall Street analysts are not expecting much from the media giant, as it continues to slog toward a rejiggering of itself.

Time Warner–which owns assets like the Warner Bros. movie studio, the AOL online unit, the HBO and Turner cable networks and Time Inc. magazines–is expected to earn 37 cents per share, compared to 72 cents a year ago, according to a poll of analysts from Thomson Reuters.

Revenue is expected to be $6.97 billion, down from $11.56 billion in the same quarter last year. This drop is mostly due to the March spinoff of its cable unit, Time Warner Cable.

But AOL and its magazine unit are expected to continue to drag on Time Warner’s financial performance.

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Oh, there had to be much, much gnashing of teeth in the corporate offices at the Time Warner Center in New York yesterday with news of the sale of DailyCandy to Comcast for $125 million.

Why?

Maybe because that tasty payment is going right into the hands of Bob Pittman’s Pilot Group Ventures, which bought the fashion and shopping newsletter business for $3 million in 2003.

This is certainly different from the situation almost exactly six years ago when Pittman–nicknamed “Pitchman” for his smooth business stylings–was driven out of then-AOL Time Warner on the proverbial rail.

If you want a taste of those once-grim times for Pittman, here is an excerpt from my book, “There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest for a Digital Future.”

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We’re posting all the interviews from the sixth D: All Things Digital conference that took place in late May.

Here’s Part 3 of 4 of an interview I did with Time Warner’s CEO Jeff Bewkes.

As you will see, Bewkes is a live wire, sassing me about the hard time I was giving him about the rough road AOL has had as a Time Warner property.

In this video, Bewkes talks about the digitization of its HBO premium cable channel and also its television and movie businesses and the challenges of making of original content online.

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Yesterday, you could feel the testiness jump right over the phone from several people close to Microsoft whom I spoke to about Yahoo’s latest gambit to sell its blue-sky growth plan to Wall Street.

Like a lot of Yahoo’s various moves of late–dating promiscuously with other suitors, handing out pricey severance plans to all employees and continuing to spurn the advances of the software giant without a raise in its $31-a-share bid–the projections by Yahoo that its sunny future warranted at least $40 a share were not taken well in Redmond.

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AOL’s video search engine Truveo (which we posted on here–see the video with CEO Tim Tuttle below) made a list of the top 10 viral videos for 2007.
Of course, the inane answers of Miss Teen South Carolina made the top of the list.

And, however did we miss this gem at No. 4?–the “Paris [...]

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