AOL Defends Strategy Amid Investor Criticism
AOL Inc. rebuffed an activist investor’s call for “immediate action” to address the Internet company’s “money-losing growth initiatives,” but analysts said the investor’s complaint reflects broader dissatisfaction among AOL shareholders.
In a written statement Wednesday, the company said its board and management team “remain firmly committed” to creating value for its shareholders. “We will continue to aggressively execute on our strategy in 2012 as we continue the turnaround of AOL,” the company said. AOL added that it had cut costs, sold noncore assets and made “significant investments for our future” during the past two years.