Momentum May Be Shifting to Microsoft

While still far behind, Bill Gates's team is finally starting to gain against its online archrival -- and AOL senses the danger

Call it a reversal of fortune at Internet speed. Just a year ago, AOL Time Warner's (AOL ) online arm was on top of the world. It had 27 million subscribers worldwide, its ad revenues were growing smartly, and the just-completed merger of AOL and Time Warner seemed likely to shelter the world's leading online service from the forces that were eviscerating other dot-coms.

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