While search was a bright spot in the earnings of Yahoo and Microsoft, and Google beat Wall Street estimates, AOL is not faring as well.
Time Warner released its 2008 fourth quarter earnings and AOL lost 18% in ad revenue. Last year, Time Warner announced that it would split AOL into two: media and internet access. The access division didn't fare any better with subscriptions down 27%.
Time Warner has been trying to sell AOL. In the past year, they've talked to both Microsoft and Yahoo about a deal, but so far nothing has been negotiated.