AOL Rolls the Dice on New Video Site

AOL Rolls the Dice

Updated 4-03-2007. Edited 05-15-2007 and 5-19-2007.

The news about Google has affected the news about AOL more times than I care to recall, going back to the last in their series of partnerships (agreed to in late 2005) that somehow fell under the public radar and got broadcast as news again a few months ago.

Again AOL is making news because of Google, this time for wanting to cut into Google’s business by teaming up with NBC Universal (the same people who mistakenly gave us Randy Falco), NewsCorp’s MySpace, Microsoft, and Yahoo! to offer a competitor to YouTube that will offer free full-length movies and television shows as opposed to YouTube’s 10 minute clips. The new, jointly owned site could be up and running by the summer if all goes according to plan.

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Does AOL print its own money?

Does AOL print it's own money?

03-04-2007: Updated and recalculated after AOL’s latest settlement. Updated again 03-11-2007, 4-02-2007 and 5-10-2007.

AOL is painting their bad news in a positive light. Now they claim a recent stack of accounting fraud lawsuits against them are going to be paid for with a special fund that they set up years ago with $20 million, that they added another $600 million to in Dec. 2006. They’re wrong. They’re not even close to telling the truth.

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