Sources close to AOL say that the board shall make a final decision on 28th May on the spin off of AOL from Time Warner that the parent company had announced last month. Sources revealed that the it is a “Done Deal.”
Last month Time Warner announced that it would likely spinoff AOL And that itw ould Buy out Google’s 5% stake and a likely IPO. Nothing more was revealed.
AOL’s Total revenues in 2008 were $4.2. It had $150 Million operating income on revenues of $867 Million in the first Quarter of 2009. In January 2000, AOL and Time Warner announced plans to merge. The terms of the deal negotiated called for AOL shareholders to own 55% of the new, combined company. The deal closed on 11 January 2001 after receiving regulatory approval from the FTC, the FCC and the European Union.
