In a regulatory filing yesterday Time Warner revealed that it has completed the purchase of a 5% stake in its ISP subsidiary AOL from Google. The firm paid USD283 million for the stake, meaning that it now holds 100% of AOL shares. The price that the company paid for Google’s stake implies that AOL has a total value of about USD5.7 billion. As reported by CommsUpdate on 29 May, the Time Warner board has approved a plan for the complete legal and structural separation of its ISP subsidiary AOL from the core business. Following the spinoff AOL will become a publicly listed standalone company. Time Warner plans to have completed the separation by the end of the year.