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Time Warner gets ready to spin off AOL
Jake Widman
Wednesday, 29 July 2009 05:29
Page 2 of 2
Google originally paid $1 billion for its share of AOL.Now Time Warner has bought Google's five percent back for $283 million, according to the filing with the SEC.
That means AOL is now worth about $5.7 billion, and that Google lost $717 million on the deal.
Reuters quotes Brigantine Advisors analyst Colin Gillis as calling the $5.7 billion figure a "floor valuation" and saying that "it shouldn't be anything lower than that."
AOL has said that it already incurred $58.3 million in restructuring charges this year and plans to incur up to $90 million more before the deal is completed.
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