Where Did That Wascally Wabbit Go?

A month after announcing that it would close its Fifth Avenue, New York, store this year, AOL Time Warner has further announced that it will sell or close 130 of its 150 Warner Bros. Studio stores around the country. Insisting that the move was streamlining for efficiency – not for cost-cutting sake – a Time Warner spokesman said the move was a result of the recent merger between the company and America Online. Company-wide cutbacks – or “streamlinings” – will result in laying off 3 percent of the AOL Time Warner workforce.