Log In | Register
US media giant Time Warner says its board has approved plans to spin off its AOL internet division as a separate company by the end of this year.
Time Warner and AOL to separate
Seeded on Mon Jun 1, 2009 4:30 AM EDT
Article Source: BBC News- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
Time Warner will buy the 5% of AOL it does not already own from Google, then offer the firm to its own shareholders.
AOL and Time Warner combined in 2001 in what has become one of the least successful mergers in history.
Time Warner said last month it was planning to spin off some or all of AOL as internet advertising slumped.
In March, former Google advertising executive Tim Armstrong was recruited to head AOL with the possibility of leading a separation.
Google is among the companies that has grown to dominate online advertising at the expense of the once powerful AOL.
- 1 vote
#1 - Mon Jun 1, 2009 4:31 AM EDTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
As a new user, you may notice a few temporary content restrictions. Click here for more info.
