According to The Wall Street Journal (paid sub. req.), Time Warner Inc. said its AOL unit will move its corporate headquarters to New York City from Dulles, Va., and combine its various advertising business into a new subsidiary.
The new entity will also include AOL’s Advertising.com unit, which buys ad banners on thousands of Web sites for clients.
“New York City is the center of advertising, so it makes perfect sense to locate our corporate headquarters here,” said Randy Falco, AOL’s chairman and CEO.
AOL will continue to have significant operations in Dulles, Va., as well as offices in Mountain View, Calif., and other locations.
