Time Warner Ends Disastrous Marriage With AOL

Law360, New York (November 17, 2009, 7:19 PM EST) -- Media conglomerate Time Warner Inc. has disclosed that it will spin off AOL Inc. as a separate company, thus ending the companies' disastrous nine-year marriage.

“The Time Warner board of directors has approved the final distribution ratio and declared a pro rata dividend of the shares of AOL common stock owned by Time Warner that will result in the complete legal and structural separation of the two companies,” Time Warner said in a statement Monday.

The spinoff will become official Dec. 9, when Time Warner shareholders...
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