Today, AOL offers a large number of services (visit ).ĪOL was founded in 1985 as Quantum Computer Services by a handful of employees from the remains of Control Video Corporation (CVC), a company that sold Atari video games online. A paid, premium service included ID theft and PC insurance. Advertiser supported, they included the AOL browser, email with custom domain name, instant messaging, online storage, access to AOL videos, photo and video sharing as well as numerous Internet radio channels. In addition to paid dial-up, AOL introduced free services to users no matter which Internet provider (ISP) they used. By 2011, AOL had roughly 10% of the dial-up customers at its high point.
However, as broadband cable and DSL took hold, AOL's dial-up base declined significantly. Its integrated software was popular with first-time users, who were signing up in droves. When dial-up Internet was king in the late 1990s, AOL became a major force with more than 30 million subscribers worldwide connecting via analog modems. (AOL LLC., New York, NY, An online service that offers Web browsing, email and a variety of information portals and Internet-based services.
TWA LLC will transfer all of the AOL Common Stock that it owns to TWX in respect of the membership interests of TWA LLC held by TWX (the “Internal Distribution”).įor the avoidance of doubt, from and after the AOL Employee Transfer Time, in no event will AOL be required to issue, grant or award any compensation relating to AOL Common Stock to any employee who is a member of the TWX Group, and in no event will TWX be required to issue, grant or award any compensation relating to TWX Common Stock to any employee who is a member of the AOL Group.Ī program is defined as a group of related projects managed in a coordinated way to obtain benefits and control not (necessarily) available for managing them individually. Whether before, after or simultaneously with Step 9 above, TWX will cause the recapitalization of AOL so that the number of outstanding shares of AOL Common Stock will be equal to the number of shares that will be distributed in the Distribution (the “Recapitalization”). AOL will transfer all of the membership interests in AOL LLC to TWX and TWA LLC, on a pro rata basis in respect of the AOL Common Stock held by TWX and TWA LLC, respectively (the “First AOL LLC Distribution”).
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