/UCWE/ - Time Warner many years following their acquisition of then Internet leader America Online (AOL) is finally spinning the asset off on December 9, 2009. After heavy criticism over the years and the weight of AOL dragging on Time Warner, the company is finally able to turn the lagging asset into a boost to its balance sheet.
Time Warner shareholders of record as of November 27, 2009 will receive one share of AOL common shares for every 11 shares of Time Warner common shares that they hold. AOL will ill start out with about 105.7 million common shares, based on the amount of shares of Time Warner stock it expects to be outstanding as of Nov. 27
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