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Time Warner and AOL to separate

pimg src="http://newsimg.bbc.co.uk/media/images/44898000/jpg/_44898954_-37.jpg" align="left" width="226" height="170" alt="Time Warner office" border="0" vspace="4" hspace="4"/pp class="first"bUS media giant a href="http://www.timewarner.com/corp/"Time Warner/a says its board has approved plans to spin off its AOL internet division as a separate company by the end of this year./bpTime Warner will buy the 5% of AOL it does not already own from Google, then offer the firm to its own shareholders. /ppAOL and Time Warner combined in 2001 in what has become one of the least successful mergers in history. /ppTime Warner said last month it was planning to spin off some or all of AOL as internet advertising slumped. /ppEarlier this year, Google executive Tim Armstrong was recruited to head AOL with the possibility of leading a separation./phrpThis article is from the a href="http://news.bbc.co.uk"BBC News website/a. #169; British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites./pdiv class="feedflare" a href="http://feeds2.feedburner.com/~ff/bbcnewstechnologyfullfeed?a=TV7dxsDHmgE:-hF4C4dxRqk:F7zBnMyn0Lo"img src="http://feeds2.feedburner.com/~ff/bbcnewstechnologyfullfeed?i=TV7dxsDHmgE:-hF4C4dxRqk:F7zBnMyn0Lo" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/bbcnewstechnologyfullfeed?a=TV7dxsDHmgE:-hF4C4dxRqk:V_sGLiPBpWU"img src="http://feeds2.feedburner.com/~ff/bbcnewstechnologyfullfeed?i=TV7dxsDHmgE:-hF4C4dxRqk:V_sGLiPBpWU" border="0"/img/a a href="http://feeds2.feedburner.com/~ff/bbcnewstechnologyfullfeed?a=TV7dxsDHmgE:-hF4C4dxRqk:yIl2AUoC8zA"img src="http://feeds2.feedburner.com/~ff/bbcnewstechnologyfullfeed?d=yIl2AUoC8zA" border="0"/img/a /divimg src="http://feeds2.feedburner.com/~r/bbcnewstechnologyfullfeed/~4/TV7dxsDHmgE" height="1" width="1"/