America Online Not Commenting On Realignment Reports 02/06/98
Newsbytes, Friday, February 06, 1998 at 15:21
DULLES, VIRGINIA, U.S.A., 1998 FEB 6 (NB) -- By Bob Woods, Newsbytes. The Wall Street Journal and the New York Times reported Friday morning that America Online [NYSE:AOL] will restructure itself to fold its new media group back into its core business.
An AOL spokesperson told Newsbytes that AOL's corporate policy is not to comment on rumors or speculation.
The Journal also said bringing AOL Studios back into AOL Networks would likely result in layoffs, because of staff redundancies.
The Times added that the organizational changes will be announced next week.