Time Warner may finally spin off AOL

Time Warner Inc. (TWX) today announced that it may spin-off AOL (the parent company of this blog), effectively undoing one of the more controversial corporate mergers in recent history.

The 2001 merger of AOL and Time Warner was hailed at the time as the ideal combination of old and new media, creating a synergy-driven hybrid that would grow for years. As critics from Wall Street analysts to billionaire Carl Icahn pointed out, though, the merger never lived up to the original hype.

Shares of the New York-based company, which reported strong quarterly earnings, soared in pre-market trading.