Time Warner's America Online is now officially AOL - and has also changed its status from a corporation to a limited liability company, reports the Associated Press. "Our company long ago accomplished the mission implied by our old name. We literally got America online," Jon Miller, chairman and chief executive of AOL LLC, is quoted as saying. He said consumers already know the company as AOL.
AOL had 19.5 million U.S. subscribers at the end of 2005, 27 percent less than the peak 26.7 million in September 2002. AOL shifted its efforts, becoming a free portal offering articles, video and other content available through its ad-supported sites.
Founded in 1985 as Quantum Computer Services, Inc., the company took the name America Online, Inc. in 1991 as a result of an employee naming contest.