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AOL To Keep Social Networking Site, Bebo?

5:30 pm on Jul 10, 2009 (gmt 0)

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AOL To Keep Social Networking Site, Bebo? [reuters.com]
AOL, which is in the process of being spun off from Time Warner Inc (TWX.N), is reviewing assets it could sell or divest, but will likely keep its social networking site Bebo, CEO Tim Armstrong said.
Armstrong told Reuters on Thursday that Bebo still has "great value" and that it will be moved to a Ventures unit of the online company so that work can be done to improve the site. The move has raised speculation that AOL may want to sell Bebo, which has lagged in popularity behind other social media sites like Facebook and Twitter.

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