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Time Warner:Google Executive Tim Armstrong Named AOL Chairman, CEO
Dow Jones

DOW JONES NEWSWIRES

Time Warner Inc. (TWX) Thursday named Tim Armstrong, a top Google Inc. (GOOG) executive, to head its AOL LLC unit as it struggles to make a transition from a subscription-based service provider to an advertising-supported model.

At the same time, Time Warner said AOL Chairman and Chief Executive Randy Falco and President and Chief Operating Officer Ron Grant would leave the company after a transition period.

There has been some shuffling in the executive suite at AOL, as the unit has been especially hard hit by the ad downturn.

Time Warner Chairman and Chief Executive Jeff Bewkes, in announcing the appointment of Armstrong, a Google senior vice president, specifically touted his influence in building Google's online search advertising platform.

Bewkes said Armstrong was "the right executive to move AOL to the next phase of its evolution."

Armstrong, who first joined Google in 2000 and helped open its first office in California, was a member of Google's operating committee and served as the president of the Americas operations. He sits on the board of several advertising councils.

Time Warner's shares were down 4.8% to $7.92 in after-hours trading.

-By John Kell, Dow Jones Newswires; 201-938-5285; john.kell@dowjones.com


  (END) Dow Jones Newswires
  03-12-09 1840ET
  Copyright (c) 2009 Dow Jones & Company, Inc.
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