Time Warner: Google manager to rescue struggling AOL business
The U.S. media conglomerate Time Warner hopes to halt the years-long decline of its AOL internet business with the help of a high-ranking Google executive. The company is bringing in 37-year-old Google Vice President Tim Armstrong as the new head of its internet division.
The US media group Time Warner wants to stop the years-long decline of its Internet business AOL with a high-ranking Google manager. The company has brought in 37-year-old Google Vice President Tim Armstrong as the new strong man for the Internet division. Not only did the previous AOL boss Randy Falco have to vacate his position, but also Ron Grant, who was responsible for the operational business.
Time Warner has been dissatisfied with the development of AOL for years. The company, which grew up as a provider of Internet access, has so far tried to earn money with online advertising with little success. Last year, turnover fell by 20 percent. Time Warner was already considering whether it could get rid of the division, but negotiations about a partnership with the internet group Yahoo were unsuccessful.
Time Warner has been dissatisfied with the development of AOL for years. The company, which grew up as a provider of Internet access, has so far tried to earn money with online advertising with little success. Last year, turnover fell by 20 percent. Time Warner was already considering whether it could get rid of the division, but negotiations about a partnership with the internet group Yahoo were unsuccessful.
(Image: Keystone)
