Time Warner said on Thursday that it would file for divorce in one of the most ill-fated marriages in the history of the media and technology business, its 2001 merger with AOL. The companies hope the separation is complete at the end of the year.

AOL has long since lost the allure that prompted Time Warner to contribute two-thirds of its equity. (The original merger had AOL essentially buying Time Warner, with AOL valued at over $150 billion.)

To read this report from The New York Times in full, see:
bits.blogs.nytimes.com/2009/05/28/splitsville-for-aol-and-time-warner/