Time Warner disconnects AOL

Time Warner said yesterday it&rsquo;s board has approved plans to separate out its AOL division, in a widely expected move that will rid the media giant of one of its weakest divisions.<br />Due to be completed at the end of this year, the deal would once again make AOL an independent, publicly traded company, and close the door on a massive merger between the two media companies in 2000. Critics say the merger failed to live up to its promise, which the once-dominant internet service provider being left behind by competitors.