aol inc (AOL) Key Developments
AOL Inc. to Amend its Amended and Restated By-Laws
May 12 15
AOL Inc. to amend the amended and restated by-laws of the company and by resolution authorized, approved and adopted an amendment to the bylaws. The bylaw amendment became effective upon the date of the merger agreement. The Bylaw Amendment provides that unless the Company consents in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Company, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the Company to the Company or the Company's stockholders, (iii) any action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law or the Company's Amended and Restated Certificate of Incorporation or Bylaws (as either may be amended from time to time) or (iv) any action asserting a claim against the Company or any director of officer or other employee of the Company governed by the internal affairs doctrine, shall be a state court located within the State of Delaware (or, if no state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware).
AOL Reportedly In Talks To Sell HuffingtonPost To Axel Springer
May 12 15
Axel Springer SE (DB:SPR) is reportedly in talks to acquire TheHuffingtonPost.com, Inc. from AOL Inc. (NYSE:AOL).
AOL Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 8 15
AOL Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $625.1 million against $583.3 million a year ago. Operating income was $23.9 million against $24.2 million a year ago. Income before income taxes was $14.0 million against $24.7 million a year ago. Net income attributable to the company was $7.0 million against $9.3 million a year ago. Basic and diluted net income per common share was $0.09 against $0.12 a year ago. Cash provided by operating activities was $55.7 million against $23.5 million a year ago. Capital expenditures and product development costs was $25.3 million against $16.9 million a year ago. Adjusted OIBDA was $104.1 million against $107.3 million a year ago. Adjusted net income attributable to the company was $27.7 million against $29.5 million a year ago. Adjusted Diluted earnings per share were $0.34 against $0.35 a year ago. Revenue grew 7% driven by 12% growth in global advertising and other revenue. Year-over-year comparisons were negatively impacted by $2 million in revenue from Patch in first quarter 2014, prior to its contribution to a joint venture on January 29, 2014. Adjusted OIBDA declined 3% year-over-year, reflecting declines in Membership Group Adjusted OIBDA and increased investments in AOL Platforms, which offset improved profitability in the Brand Group. Diluted EPS was negatively impacted by a $17 million restructuring charge primarily related to a reorganization in sales force in first quarter as well as $10 million of primarily non-cash interest and other expense related to AOL's outstanding convertible notes and losses from foreign currency transactions.
AOL Inc. Introduces Three New Apps for Apple Watch
May 6 15
AOL Inc. has introduced three new apps for the Apple Watch, the Pip app, the Huffington Post app, and the AOL app. Pip App follows AOL's legacy as the creator of online messaging with an all-new messaging experience envisioned from the ground up for the Apple Watch. Pip is an easy to use, fully realized messaging app for the Apple Watch, allowing users to easily send and respond to short, simple messages with a single tap. In just a few taps, tell a friend you're running late, share location (or ask for theirs), send them the weather, ask them to call you, and more without even having to pull out phone. Pip App is designed from the ground up to be the only messaging app purpose-built for the Apple Watch. It instantly receives messages from friends, and respond with a single tap without even having to use iPhone, and creates own custom, pre-programmed messages in any language, and configure their color. It is available for download in 150+ countries. The Huffington Post App brings up-to-the-minute articles in a dynamic experience. Navigate, bookmark and share with ease through the real-time updates from The Huffington Post's Pulitzer-prize winning newsroom and international editions including the UK, Canada, Brazil, Germany, Spain, France, Italy, Japan, Korea, Maghreb, Greece and India. The AOL App keeps connected, informed and entertained with headlines, trending videos and AOL Mail. With its quality, advanced capabilities and easy-to-use interface, the AOL app for Apple Watch will provide users with an experience featuring: designed with the Apple Watch handoff feature in mind, users can read an email or article on the Apple Watch and pick it back-up on their iPhone, iPad or iPod touch; view news and email based on relevance and time using Apple Watch glances feature; Email and breaking news notifications; ability to read the full text of the latest unread messages; quick response to emails with pre-written messages; and quick actions that allows easy inbox management.
AOL Inc. and NBCUniversal Announce Video Content Partnership
Apr 29 15
AOL Inc. and NBCUniversal announced an expansive content distribution and development agreement of both exclusive and non-exclusive content. Beginning this summer, NBCUniversal video clips and segments from select entertainment and news programming will be available to stream on AOL On (on.aol.com), the AOL On mobile app, and across 16 major platforms which the AOL On app is available. The content will be from NBCUniversal's vast portfolio of broadcast networks, cable channels and digital networks, including Bravo, CNBC, E!, Esquire, MSNBC, NBC, Oxygen, Syfy, Telemundo and USA. Together, the companies are exploring AOL brand experts to appear across certain NBCUniversal linear TV properties. Further, AOL and NBCUniversal will co-develop and co-produce original Web video series for distribution over the NBCUniversal and AOL platforms, and are in discussions on creating weekly live programming together.