Media giant Time Warner has announced that it is terminating its merger with Internet company American Online (AOL), which has been in place since 2001. The latter will now function as an independent public company.
At the time of the merger, AOL had a dominant position in the Internet service provider domain. This is no longer the case. In the first quarter of 2009, AOL’s revenue fell by 23% to $867. (Source: Variety)