AOL To Cut “A”, Focus On “OL”
Wednesday, November 11th, 2009In preparation for their imminent departure with Time Warner, long-standing portal and flailing content aggregator AOL announced early Tuesday that it will be cutting the “A” from its name to allow it to focus more on it’s core business of slowly fading into online oblivion. The move, which will go along with layoffs and a major shakeup of leadership, will reportedly save the company more than $30 million this quarter, making it a much more attractive acquisition target for another hapless media conglomerate. ”We knew we had to cut, and we had to cut deep,” said CEO Tim Armstrong. ”And the choice to cut the ‘A’ was the most obvious. I mean, most of America doesn’t use us anymore, and 90% of Americans under 18 don’t even know who we are, so it was kind of a no-brainer. Now we can focus solely on the online portion of our business, which we define as operating dying properties or services that Google or someone else has already effectively replaced.”