AOL Closes Its First Day As An Independent
AOL INC. (NYSE:AOL) has finished their first day as an independent company. It actually makes me feel somewhat nostalgic that AOL is on their own again. I actually hope that the company starts mailing me CDs with a free AOL trial once again. Time Warner Inc. (NYSE:TWX) might actually start feeling separation anxiety eventually.
The separation has taken place about 10 years after the AOL-Time Warner merger took place. Both Time Warner and AOL still have a long road ahead. AOL has been suffering from a loss of advertising revenue and took a hit as broadband grew to be more popular than dial-up connections. And Time Warner has had to slim down on their cable business.
After AOL’s first day of trading the company stock ended at $23.67 and the company has a market cap of $2.54 billion.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry