The Wall Street Journal is reporting that earlier this month, Time Warner Inc. brought back a 5% stake in AOL from Google Inc. The price tag of this 5% stake is reportedly $283 million.
This maneuver is the first step in AOL Inc. spinning off to become its own independent company- separate from Time Warner.
The independent AOL Inc. is expected to make its debut on the New York Stock Exchange. AOL will also reportedly seek to expand its advertising display business and digital media business.