AOL Chief Executive Tim Armstrong doubles stake (Reuters)
NEW YORK (Reuters) – AOL (AOL.N) Chief Executive Officer Tim jazzman multiple his wager in the consort and today holds most $20 meg in AOL shares.
Armstrong purchased 477,000 of AOL shares at an cipher toll of most $20.97 totaling approximately $10 meg according to a regulatory filing on Monday.
AOL shares were up 3.7 percent at $22 in primeval trading on the New royalty Stock Exchange. They are down around 10 percent year-to-date.
Armstrong is trying to invoke around the harassed consort after it split from Time Warner Inc (TWX.N) in Dec 2009 success a disastrous decade-long merger.
Armstrong, a past Google (GOOG.O) executive, is attempting to form AOL into an online media and recreation worker captivating to advertisers. The consort bet bounteous last hebdomad with the $315 meg purchase of the influential site The Huffington Post.
(Reporting by Jennifer Saba; Editing by Derek Caney)
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