>AOL Needs ‘Immediate Action,’ Investor Says
By Edmund Lee – Dec 21, 2011 12:50 PM ET
AOL Inc. (AOL), losing as much as $500 million annually in its display advertising business, must take “immediate action” to stem shareholders’ losses, activist investor Starboard Value LP said.
Starboard, which said it holds a 4.5 percent stake, sent AOL a letter dated today that outlines its poor performance, estimating the Internet company sees “staggering” operating losses in display ads.
