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AOL to spin off from Time Warner
Published:November 17, 2009, 6:48 AM
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Updated: August 21, 2010, 3:05 AM
SAN FRANCISCO (AP)— Time Warner said Monday that it will spin off its Internet business, AOL Inc., as a separate company Dec. 9.
Time Warner Inc. said it has declared a dividend on the AOL shares it owns that will result in a complete separation of the two companies.
On Dec. 9, Time Warner stockholders of record Nov. 27 will receive AOL common stock for every 11 shares of Time Warner common stock they hold.
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