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NEW YORK AOL Time Warner yesterday reported that second-quarter ad revenue for its struggling America Online division plummeted 48 percent compared to the year-earlier period.
The New York-based media giant attributed the falloff to the reduction of benefits of prior-period contract sales of about $140 million, as well as lower inter-company revenues.
Overall Q2 revenue for the Internet unit was $2.1 billion, down 6 percent from $2.3 billion in the year-ago quarter.
The America Online results were released as a part of AOL Time Warner’s second-quarter earnings report.
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