Time Warner has reported its earnings for the third quarter of 2009 and the news isn't so pretty for AOL. Overall revenues declined 23% to $777 million.
The decline resulted from an 18% decrease in advertising revenues as well as a 29% decline in subscription revenues. Time Warner said the decline in ad revenues was due to lower paid search and display ads on AOL Media, reduced ad sales on third party sites and foreign exchange rates.
AOL averaged 102 million U.S. unique visitors per month and 44 billion domestic page views, which translates to 144 pages per unique visitor.
Last spring, Time Warner announced plans to spin off AOL. And recently a Board of Directors was named for the soon-to-be-independent company.
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