AOL reboots 10 years after Time Warner merger, with a bold bet on content

The AOL Time Warner merger of 2000 created a $160 billion colossus that fused America Online, the dominant Internet-access business of the 1990s, with Time Warner, the traditional media mammoth. But in a decade rocked by two recessions, Web access gave way to messaging, search and advertising -- and upstart Google (GOOG) overtook the merged company as the world's biggest Internet giant.