Feeds

Time Warner swallows Google's AOL stake

Spin off one step nearer

Business security measures using SSL

Time Warner has bought back the five per cent stake in AOL which Google bought for $1bn back in 2003 - only having to cough up $283m for the stake.

Google wrote the investment down by $726m in February.

The buyback is a necessary step in Time Warner's long-stated ambition to spin AOL off as an independent company.

It hired Tim Armstrong to head up the new and improved AOL.

The merger of AOL and Time Warner cost somewhere in the region of $160bn at the height of dot-com lunacy in 2000.

AOL started out as an internet service provider distributing millions of promotional CDs. It sold its UK dial-up business to CarphoneWarehouse and is now trying to redefine itself as a content provider and ad sales organisation.

AOL's revenues fell 23 per cent to $867m in the quarter ended March 31 2009. This was blamed on a 27 per cent fall in subscription revenues and a 20 per cent fall in ad revenues. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.