Time Warner will untie AOL after knotty near-decade

The biggest business deal of all time will soon be undone.

Time Warner's (TWX) board is expected today to approve AOL becoming an independent company, The Wall Street Journal is reporting, according to the people familiar with the matter.

The separation would come about a decade after the merger was announced, just two months before the Nasdaq Composite traded to a record-high, above 5,000.