Netscape.com to become portal for Time Warner content

AOL Time Warner is taking steps to dramatically refocus its flagging Netscape subsidiary, handing responsibility for Web browser development to another division and preparing to relaunch Netscape.com as a venue for its top editorial content, according to sources familiar with the plans. Breaking from Netscape's technology roots, AOL Time Warner this week moved the browser development group out from under the Netscape division and into the AOL Technology wing, sources inside the company told CNET News.com. In a separate move, sources said AOL Time Warner is close to announcing a series of deals aimed at transforming Netscape.com into a content hub, offering an online hub for entertainment and editorial content, such as Time magazine. Netscape.com "will be a hub for Time Warner content. It's been touted around internally," said a source in Netscape who requested anonymity. Netscape executives are also considering renaming the Web site once it inherits AOL Time Warner's content, but they have not decided on a new name, according to one source close to the company. Just a few months ago, Netscape dropped "Netcenter" from its name; now it simply calls the Web site "Netscape." The reorganization comes as AOL Time Warner is looking at all of its business units in the wake of the merger and plans widespread layoffs, particularly in its Time Warner online and entertainment divisions, according to sources. About 2,000 of the company's 85,000 employees received pink slips Tuesday, including 100 staffers in the New Line Cinema film studio, according to one source.