Time Warner, Inc. (NYSE: TWX) just announced this evening that it has appointed a new chief executive and chairman to run AOL. Getting the top job, replacing Jon Miller, is Randy Falco, the president and COO of NBC Universal Television Group, a division of General Electric Company (NYSE:GE).
Details about the change are still coming out (see coverage from the Wall Street Journal, subscription required). But it comes at a time when AOL is in transition from a subscription-based business model to an ad-supported media business.
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