AOL promotes exec to organize company into 3 units

Jun 29, 2012

(AP) — AOL is promoting its head financial officer to chief operating officer. The company has tasked him with organizing the online media conglomerate into three divisions.

AOL Inc. announced the promotion of Artie Minson Jr. on Friday morning. Minson will be in charge of executing the company's plan to break itself into three groups.

The new Content Brands Group will include Huffington Post Media, which oversees Moviefone, TechCrunch, Patch and the Huffington Post website. AOL bought the Huffington Post last year.

The AOL Membership Group will include AOL Mail and other consumer products.

And the Advertising.com will hold AOL's business services, ADTECH, Pictela and other products related to advertising.

AOL's stock rose 2.4 percent, or 67 cents, to $28.17 Friday afternoon. That's 19 cents shy of its high over the past year. The stock has risen 86 percent so far in 2012.

The company launched an effort to buy back up to $400 million of its shares on Thursday. It's funding that effort with proceeds from the sale of more than 800 patents and applications to Microsoft Corp.

Including the $400 million, will have returned about $1.1 billion to shareholders this year.

Explore further: WellPoint 2Q tops Wall Street expectations

not rated yet
add to favorites email to friend print save as pdf

Related Stories

AOL launches $400 mn share buyback

Jun 28, 2012

AOL on Thursday launched a $400 million stock buyback in the latest move aimed at improving shareholder value at the Internet and media group.

Huff Post closes deal to join AOL

Mar 07, 2011

The Huffington Post officially joined AOL Monday, celebrating with the announcement that it had nabbed reporters from The New York Times, Yahoo!, and even Rupert Murdoch's new iPad newspaper The Daily.

AOL cutting over 900 jobs in US, India

Mar 10, 2011

Internet company AOL is cutting more than 900 jobs as it joins forces with The Huffington Post and seeks to reinvent itself as a major player in online news.

AOL shareholders re-elect all 8 board members

Jun 14, 2012

(AP) — AOL Inc. said Thursday shareholders voted at their annual meeting to re-elect all eight directors on the company's board, fending off a takeover attempt by one of its largest investors.

Recommended for you

Why let your sales force influence product prices?

11 hours ago

From the outside, you might not notice the ongoing tension within many large businesses: the battle between salespeople, on the one hand, and marketers and product managers, on the other. Because the salespeople ...

User comments : 0