AOL Chairman and CEO Tim Armstrong pauses during an interview at the Newseum in Washington, October 1, 2009.

AOL Chairman and CEO Tim Armstrong speaks during an interview at the Newseum in Washington, October 1, 2009.

AOL Chairman and CEO Tim Armstrong refers to one of his company's new 'patch' websites during an interview at the Newseum in Washington, October 1, 2009.

AP Photo 2 months ago

Online voters selected the AOL Running Man as one of two favorite icons to be inducted in to the Madison Avenue Advertising Walk of Fame, beating out 25 other popular mascots, Advertising Week announced today.

Tim Armstrong, chairman and CEO of AOL speaks at the Fortune Tech Brainstorm 2009 in Pasadena, California July 23, 2009.

Tim Armstrong, chairman and CEO of AOL speaks at the Fortune Tech Brainstorm 2009 in Pasadena, California July 23, 2009.

Tim Armstrong, chairman and CEO of AOL speaks at the Fortune Tech Brainstorm 2009 in Pasadena, California July 23, 2009.

Tim Armstrong, chairman and CEO of AOL speaks at the Fortune Tech Brainstorm 2009 in Pasadena, California July 23, 2009.

Tim Armstrong, CEO and chairman of AOL, arrives for lunch at the Sun Valley Inn in Sun Valley, Idaho July 10, 2009. The resort is the site for the annual Allen & Co's media and technology conference.

AP Photo 5 months ago

Jonathan Miller, left, former AOL CEO, and Peter Chernin, former President and CEO of News Corporation, break for lunch at the annual Allen & Co.'s media summit in Sun Valley, Idaho, Friday, July 10, 2009.

AP Photo 5 months ago

AOL CEO Tim Armstrong talks on the phone after leaving the morning session at the annual Allen & Co.'s media summit in Sun Valley, Idaho, Friday, July 10, 2009.

AP Photo 5 months ago

AOL CEO Tim Armstrong, right, chats with Barry Diller, chairman and CEO of InterActive Corp, at the annual Allen & Co.'s media summit in Sun Valley, Idaho, Wednesday, July 8, 2009.

The building housing the corporate headquarters of AOL can be seen in New York May 28, 2009.

The building housing the corporate headquarters of AOL can be seen in New York May 28, 2009. Time Warner Inc on Thursday made official plans to separate its AOL division sometime around the end of this year, a widely expected move that sheds one of the media company's weakest divisions.

The AOL logo is seen on the outside of the building housing the companies corporate headquarters in New York May 28, 2009.

The AOL logo is seen on the outside of the building housing the companies corporate headquarters in New York May 28, 2009.

The AOL logo is seen on the outside of the building housing the companies corporate headquarters in New York May 28, 2009.

Getty Images 6 months ago

NEW YORK - MAY 28: The AOL logo is displayed in front of its corporate headquarters on Broadway May 28, 2009 in New York City. Media titan Time Warner announced today that it is spinning off its AOL advertising-and-dial-up unit into a separate company.

Getty Images 6 months ago

NEW YORK - MAY 28: People stand near the AOL corporate headquarters on Broadway May 28, 2009 in New York City. Media titan Time Warner announced today that it is spinning off its AOL advertising-and-dial-up unit into a separate company.

Getty Images 6 months ago

NEW YORK - MAY 28: A woman walks by the AOL corporate headquarters on Broadway May 28, 2009 in New York City. Media titan Time Warner announced today that it is spinning off its AOL advertising-and-dial-up unit into a separate company.

Getty Images 6 months ago

NEW YORK - MAY 28: AOL corporate headquarters are seen on Broadway May 28, 2009 in New York City. Media titan Time Warner announced today that it is spinning off its AOL advertising-and-dial-up unit into a separate company.

AP Photo 6 months ago

In this undated file photo provided by AOL Inc. , CEO Tim Armstrong is shown. Time Warner Inc. said Thursday, May 28, its board has approved plans to spin off AOL, the company's lagging Internet unit.

AP Photo 6 months ago

The AOL is displayed on a user's computer in Palo Alto, Calif. , Thursday, May 28, 2009. Time Warner Inc. is dumping AOL after spending nearly a decade trying to build a new-age media empire only to wind up in a weaker position than when the marriage began.

AP Photo 6 months ago

The AOL home page is displayed on a user's computer in Palo Alto, Calif. , Thursday, May 28, 2009. Time Warner Inc. is dumping AOL after spending nearly a decade trying to build a new-age media empire only to wind up in a weaker position than when the marriage began.

AP Photo 6 months ago

In this undated photo provided by AOL Inc. , CEO Tim Armstrong is shown. Armstrong's arrival has thrilled employees who were unhappy under his predecessors, who were widely considered out of touch and out of place.