David Baxter PhD
Late Founder
Time Warner to spin off AOL
by Rachel Metz, Toronto Globe and Mail
May 28, 2009
Time Warner Inc. is dumping AOL after spending nearly a decade trying to build a new-age media empire only to wind up in a weaker position than when the marriage began.
The divorce, announced Thursday, will spin out AOL as a separate company run by former Google Inc. advertising executive Tim Armstrong. He was hired in March to try to restore the lustre to a brand once known as America Online.
Although AOL has been eclipsed by Google and other Internet stars, Mr. Armstrong still can try to build on a wide-reaching online ad network as well as AOL's Web sites, which remain a relatively big draw.
Time Warner owns 95 per cent of AOL and will buy out Google Inc.'s 5 per cent stake during the third quarter for an undisclosed amount. From there, AOL will be spun off into a separate publicly traded company around the end of the year.
...more
by Rachel Metz, Toronto Globe and Mail
May 28, 2009
Time Warner Inc. is dumping AOL after spending nearly a decade trying to build a new-age media empire only to wind up in a weaker position than when the marriage began.
The divorce, announced Thursday, will spin out AOL as a separate company run by former Google Inc. advertising executive Tim Armstrong. He was hired in March to try to restore the lustre to a brand once known as America Online.
Although AOL has been eclipsed by Google and other Internet stars, Mr. Armstrong still can try to build on a wide-reaching online ad network as well as AOL's Web sites, which remain a relatively big draw.
Time Warner owns 95 per cent of AOL and will buy out Google Inc.'s 5 per cent stake during the third quarter for an undisclosed amount. From there, AOL will be spun off into a separate publicly traded company around the end of the year.
...more
