AOL to spin off Dec. 9, begin trading Dec. 10
AOL will officially be spun off from Time Warner on December 9, with trading to begin the next day.
Shareholders of record at 2 p.m. PST on November 27 will get one share of AOL for every 11 shares of Time Warner on the day of the long-expected spinoff of the Internet service.
At Time Warner's current market cap of $38 billion, that gives AOL an implied value of $3.2 billion--a fraction of Google's $20 billion valuation of the portal in 2005, when it invested $1 billion in the property. And it's even lower … Read more