Latin AOL on the Rocks

Source Title:
Wired News
Story Text:

Wired report that the Latin arm of AOL may have to close unless it finds a suitable buyer.

Unless AOL Latin America (AOLA) finds a buyer for its assets, it will have to close down operations. Although it has enough cash to stay in business through the third quarter of this year, the company said it may be in default with Time Warner (TWX), which holds $160 million of senior convertible notes in the company.