Report: AOL Aims for Mid-December Spin-Out from Time Warner

Authored by Mark Hefflinger on October 30, 2009 - 7:06am.

Dulles, Va. - Following months of preparations, AOL plans to complete its spin-off from parent Time Warner (NYSE: TWX) in mid-December, Silicon Alley Insider reported. The blog cited three separate sources, including an AOL insider involved in the planning, while qualifying that an exact date hasn't yet been announced internally.

Another source said that the date of Dec. 11 has been communicated to certain vendors.

Time Warner announced plans to spin off AOL in May, making AOL an independent, publicly traded company.

AOL announced its new board of directors earlier this week.

The latest news comes eight years after the two companies completed a ballyhooed $147 billion merger that they promised would reshape the media landscape.

The deal, however, quickly lost its luster, and the combined company has since been forced to write down billions of dollars in AOL's assets.

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