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Mr. Armstrong plans to outline his five-point strategy on Friday for the company at an all-hands meeting under a large tent on its half-empty campus near Dulles International Airport outside Washington. Beyond talking about business lines, however, Mr. Armstrong’s primary challenge is to address what he calls AOL’s “crisis of confidence.” He wants the weary and beaten-down company to grow again.
“AOL has a choice to make,” he said. “We either lose slowly or win quickly. We are choosing to win quickly.”
This year, AOL is expected to post revenue of about $3.2 billion, down 38 percent in two years. A majority of that revenue is advertising, but AOL’s 6.2 million remaining customers for its dial-up Internet service are highly profitable and the most avid readers of its content. About 200,000 of them cancel service every month.