Home
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Living in the iron grip of our mobile devices
China-Africa ties example of mutual respect
Sunday
- Subscribe
Time Warner releases date for AOL's spin-off
Source: Agencies |
November 18, 2009, Wednesday
|
Print Edition
Print Edition
TIME Warner will spin off its Internet business, AOL Inc, as a separate company on December 9.
On that date, Time Warner shareholders of record as of November 27 will receive one share of AOL common stock for every 11 shares of Time Warner common stock they hold, the media company said in San Francisco on Monday.
AOL said in a regulatory filing it would start out with about 105.7 million common shares, based on the amount of shares of Time Warner stock it expects to be outstanding as of November 27.
Based on Time Warner's closing stock price of US$32.35 on Monday, AOL is worth about US$3.4 billion.
That is a fraction of the US$20 billion that longtime advertising partner Google Inc valued it at in 2005 when it bought a 5 percent stake in the firm for US$1 billion.
It is also much lower than what Time Warner valued AOL at in July when it bought back Google's investment for US$283 million.
This signified AOL was worth less than US$5.66 billion when excluding an unspecified cash distribution included in the total price.
The media conglomerate said in May that it planned to spin off the business by the end of the year after years of trying unsuccessfully to integrate the two companies.
AOL's Internet access business has long been fading, while efforts to derive more revenue from online advertising have met difficulties.
On that date, Time Warner shareholders of record as of November 27 will receive one share of AOL common stock for every 11 shares of Time Warner common stock they hold, the media company said in San Francisco on Monday.
AOL said in a regulatory filing it would start out with about 105.7 million common shares, based on the amount of shares of Time Warner stock it expects to be outstanding as of November 27.
Based on Time Warner's closing stock price of US$32.35 on Monday, AOL is worth about US$3.4 billion.
That is a fraction of the US$20 billion that longtime advertising partner Google Inc valued it at in 2005 when it bought a 5 percent stake in the firm for US$1 billion.
It is also much lower than what Time Warner valued AOL at in July when it bought back Google's investment for US$283 million.
This signified AOL was worth less than US$5.66 billion when excluding an unspecified cash distribution included in the total price.
The media conglomerate said in May that it planned to spin off the business by the end of the year after years of trying unsuccessfully to integrate the two companies.
AOL's Internet access business has long been fading, while efforts to derive more revenue from online advertising have met difficulties.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
