AOL to Move Headquarters to New York
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AOL said it would move its headquarters from Dulles, Va., and integrate its advertising businesses into a single unit as part of its transformation into an ad-driven business.
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America Online (website - news - quote) reportedly is preparing to fire more than 700 employees in early December - mostly at the company&#39;s Northern Virginia headquarters.
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Clear Channel Communications Inc. on Tuesday said it hired the head of AOL's music and radio division to run its online division, a move aimed at bolstering the Web presence of the leading U.S. owner of radio stations.
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America Off Line Time Warner is to split up AOL - the ailing internet service provider and ad platform which paid $165bn for the film studio in 2001.â¦
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Rupert Murdoch won shareholder  approval on Tuesday to move the corporate headquarters of his  $48 billion News Corp. Ltd. media empire to the United States  and finally sever its Australian roots.
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America Online, the world&#39;s largest Internet service provider, plans to lay off more than 700 employees early next month, or 5 percent of its US work force, to cut costs and meet financial goals, a source close to the company said on
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Time Warner plans to split up the Internet access and audience businesses of its AOL segment to run them each independently, Time Warner CEO and President Jeff Bewkes revealed Wednesday.The move comes as little surprise, as former CEO Dick Parsons acknowledged in September that Time Warner would at some point divest itself from the AOL access business, though he made no commitment to do so at the time.On Bewkes&#39; first quarterly financial conference call Wednesday since taking his position as CEO on Jan. 1, he said Time Warner&#39;s plans to split AOL&#39;s businesses will help hasten the segment&#39;s business-model transition from &quot;a declining ISP subscription business to a growing Internet ad business.&quot;&quot;This should significantly increase AOL&#39;s strategic options for each of these main business sectors,&quot; Bewkes said on a call to reveal Time Warner&#39;s fourth-quarter 2007 earnings. He made a distinction between AOL&#39;s for-fee Internet-access service and its ad-supported audience business, which includes AOL&#39;s online services and content.Bewkes did not give a specific timeline or other details for when and how the split will occur. AOL&#39;s Internet-access business, which still provides for-fee service, continues to decline in subscribers even as Bewkes noted that Time Warner has reduced operating expenses at AOL by &quot;well over a billion dollars.&quot;Still, even as AOL&#39;s goal is to become a viable online advertising competitor against Google, Yahoo and Microsoft -- the latter two of which may soon become a single and more formidable rival -- advertising revenue for AOL has been growing less than the industry average for several quarters.In the fourth quarter, ad revenue at AOL grew 18 percent, less than the current International Advertising Bureau&#39;s industry average of 25 percent. As a point of comparison, Google&#39;s ad revenue grew 51 percent in its fiscal fourth quarter.AOL&#39;s ad revenue growth was below industry average for both its 2007 second and third quarters as well. It grew 13 percent in the third quarter, which ended Sept. 30, and 16 percent in the second quarter, which ended June 30. The industry average was around 26 percent for those time periods.Time Warner&#39;s financial results for the quarter overall met Wall Street expectations, but net income was down for the quarter. The company reported $1.03 billion, or $0.28 a share, for the fourth quarter, down from $1.75 billion, or $0.44, last year. However, the results for the fourth quarter of fiscal 2006 were bolstered by an income-tax benefit as well as income from the sale of AOL Internet access businesses in the U.K. and France.Quarterly revenue rose 2.4 percent, from $12.34 billion in the year-ago quarter to $12.64 billion, reported Wednesday.Bewkes on Wednesday also outlined other cost-cutting and strategic measures that Time Warner plans to take to make the business run more effectively. The company&#39;s AOL business is not the only one that will be affected; the company also is considering reducing its investments in its Time Warner Cable business, he said.(Juan Carlos Perez in Miami contributed to this report.)
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NEW YORK, October 26  - Australia-based global media giant News Corporation (NWS.NYS) has received the approval of its shareholders to shift the company&#39;s corporate headquarters from Australia to the US.
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America Online Inc. (AOL) is aiming to get a piece of the travel search market, announcing plans Friday to introduce a new Web-based property to compete with the likes of Travelocity.com and Expedia Inc.
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AOL has settled with the state of Florida after an investigation regarding over 1,000 customer complaints related to the Internet service provider's billing and subscriber practices. AOL previously settled with New York after AOL employees refused customer requests to cancel their accounts.
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Time Warner's new Chief Executive Officer announced the outline for AOL's restructuring, which may include divesting from the AOL access business and Time Warner cable unit, and even New Line Cinema.
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AOL has agreed to make it easier for its remaining customers to leave as part of a $3 million settlement.
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After 22 years in the Dulles/Reston area of Virginia, AOL will move the majority of its operations to New York City to be closer to the hub of worldwide advertising, which makes up a good deal of its new business model.
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America Online, the world&#39;s largest Internet service provider on Monday launched an overhauled online shopping center it hopes will help it keep pace with competitive offerings by Yahoo Inc.
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AOL said Thursday it expects to drop as many as 5,000 employees, or a quarter of its global work force, within six months as the company restructures its business to draw more online advertising dollars.
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By Arianne Aryanpur, Washington Post Staff Writer  Loudoun County officials said last week they regretted the decision by AOL to lay off about 450 employees at its corporate headquarters in Ashburn, but they predicted that the workers would be reabsorbed quickly into the region's economy.
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Rumors suggest that AOL, which hired a new CEO last November and has suffered a precipitous drop in revenue recently, is getting ready for massive layoffs.