AOL, the company that introduced millions of people to the Internet, has tried to reinvent itself many times. The latest effort, like those before it, does not seem to be going well.
On Tuesday, Jeffrey L. Bewkes, the chief executive of Time Warner, AOL's parent company, acknowledged weakness in the business and said he was open to combining AOL with another company -- "whatever configuration makes it the strongest and the most valuable."
But he may have been soft-pedaling what seems to be an increasingly troublesome situation at AOL, which has bet its future on a new strategy of selling advertising across the Internet and has spent more than $1 billion on related acquisitions.
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Read about how Bewkes thinks Microsoft-Yahoo would "verify" AOL's value.