The board of Time Warner Inc has authorized the separation of AOL from the parent company: following the separation, AOL will be an independent and publicy traded company, and AOL will focus on growing its Web brands and services, and its advertising business, consolidated under Platform A. Time Warner owns 95% of AOL, while Google had bought 5%; Time Warner intends to buy this stake back before separating AOL. Of late, AOL has hired a number of Google executives - including Chairman and CEO Tim Armstrong(pictured right), President of Global Advertising and Strategy Jeff Levick. People Networks President Joanna Shields had quit a couple of days ago. AOLs international operations are headquartered in Bangalore, India, and Maneesh Dhir, EVP (International) at AOL, had also put in his papers earlier this year. According to AllThingsD's sources, it's unlikely that AOL will make any acquisitions after the spinoff. Bebo, Truveo and other start-ups that AOL has bought will be a part of AOL Ventures, operating separately, and AOL will will try and raise venture funding for them companies. The MediaGlow content business will get additional investment and still be run by Bill Wilson. Interestingly, it appears that the access business, which was earlier expected to be hived off, will remain a part of AOL. AOL is among the largest ISPs in the US, and it appears as if the Access business is going to remain a part of AOL. Implications for AOL India "There are two ways to sell a company. One is to conserve cash, which…
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