AOL replaces CEO with NBC exec

Posted by Elinor Mills

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Time Warner has hired Randy Falco, president of NBC Universal Television, to be chairman and chief executive of Time Warner's AOL subsidiary, replacing Jonathan Miller. Miller oversaw AOL's reorganization this year from a subscription-based business model to one supported by advertisements. AOL said earlier this year it would reduce its work force by about 5,000 in the transition. The strategy appeared to be paying off as online ad sales at AOL rose 46 percent in the most recent fiscal quarter. (Read full story here.)

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