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AOL LLC. (formerly America Online, Inc.) is an American global Internet services and media company operated by Time Warner and headquartered in New York, New York. With regional branches around the world, the former American “goliath among Internet service providers” once had more than 30 million subscribers on several continents. In January 2000, AOL and Time Warner announced plans to merge. The terms of the deal negotiated called for AOL shareholders to own 55% of the new, combined company. The deal closed on January 11, 2001 after receiving regulatory approval from the FTC, the FCC and the European Union.
America Online, Inc., as the company was then called, was led by executives from both AOL, SBI and Time Warner. Gerald Levin, who had served as CEO of Time Warner, was CEO of the new company. Steve Case served as Chairman, J. Michael Kelly (from AOL) was the Chief Financial Officer, Robert W. Pittman (from AOL) and Dick Parsons (from Time Warner) served as Co-Chief Operating Officers. The total value of AOL stock subsequently plummeted from about $226 billion to about $20 billion. Similarly, its customer base has decreased to 13 million subscribers as of December 2006, just narrowly ahead of Comcast and AT&T Yahoo.
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