Starboard Raises Stake In AOL to 5.1%

Posted on Feb 20 2012 - 9:41am by Editorial Staff

Activist fund Starboard Value LP raised its stake in AOL to 5.1% – the company is known as an American global Internet services and media company – Starboard also looking out to seek representation on the online media company’s board at the year’s annual meeting, WSJ reports. Starboard made the disclosures in a government filing on Thursday – last year in December, the company also wrote to AOL Chief Executive Tim Armstrong, criticizing the company’s strategy of investing in content business such as AOL’s Patch network of local news sites.

America Online or simply as known as AOL was founded in 1983 as Control Video Corporation is headquarter in NY city and has offices across the Northern America is best known for its online software suite, also called AOL. AOL’s membership was over 30 million members worldwide, most of whom accessed the AOL service through the AOL software suite.

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