Time Warner is apparently considering a spin-out, sale, or reorganization of AOL, according to CNN.com [quoting a New York Post story I can't find].

The company has lost 2.2M customers in 2003, and you have to expect the rest of the high-priced narrowband ISP business to collapse over time; however,

"the unit has continued to produce profits though, posting operating income of $663 million and earnings before depreciation and amortization of $1.5 billion in 2003. Its revenue of $8.6 billion, while off 5 percent from 2002 levels, was the second largest contributor to company revenues after its filmed entertainment unit, which had a record year."

Planning to sell while the numbers look good, I guess.

The company still has not figured out how to exploit the huge opportunity it has with its instant messaging network, AIM. While continuing to host 100+M users, AOL doesn't seem to know how to tap into what these folks want to do, aside from looking at ads and perhaps dating (at Love.com). I continue to be amazed at the conservatism of AOL in the IM market.

Who knows? A spin-out, sale, or re-org might clear out the cobwebs, and shake things up creatively or strategically. In the meantime, its business as usual: meaning, no real attack on the business opportunties within real-time communication by AOL.