Getting your player ready...
NEW YORK — Nearly a decade after America Online used its soaring stock price to gobble up Time Warner and create the world’s largest media conglomerate, Time Warner said it’s spitting out AOL.
The Internet property, whose advertising revenue plunged 20 percent in the first quarter, contributed to a 14 percent drop in profit at Time Warner.
AOL is the fourth highest-trafficked Web property, behind Google, Yahoo and Microsoft. Los Angeles Times
