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AOL Drops After Announcing New Expenses for Websites

AOL Inc., the Internet company spun off from Time Warner Inc., declined the most since July after saying it will have additional expenses this year related to expanding and acquiring websites.

The introduction of new local-news websites and deferred expenses stemming from previous purchases will result in extra costs of $50 million, Chief Financial Officer Arthur Minson said today on a conference call after the company announced fourth-quarter earnings.