AOL soon could be cut off from its Time Warner umbilical cord.
According to reports, media giant Time Warner is working on shedding AOL and closing a chapter on one of the most disastrous mergers in the history of corporate America – more than $100 billion in shareholder value has evaporated since that 2000 deal, the New York Times said.
That Time Warner would get rid of AOL has been known for some time, it’s just been a matter of when and how. On Wednesday, Time Warner told the Securities and Exchange Commission a decision on whether to spin off AOL is imminent.
