Time Warner to Spin Off AOL

Time Warner has decided to cut its losses and run by spinning off AOL. Back in 2001, AOL picked up TW for $147 billion in dot-com inflated stock. TW owns 95% of AOL and will buy the other 5% from Google before sending AOL on its merry way as a separate entity at the end of the year. You’ve got fail!

AOL co-founder Steve Case, the other main architect of the 2001 deal and the founder and CEO of investment company Revolution LLC, wrote Thursday on the short-messaging site Twitter that he is glad to see AOL set loose. He said it "has been a long, tortuous journey" and now is "time to open a new chapter."

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