Time (Warner) Elapses on "AOL"

After more than two years, AOL Time Warner Inc., giant of the world's media and entertainment companies, has decided to start on Time again.

The company's board voted September 18 in New York to drop "AOL" from its name. The corporation will again be known as Time Warner Inc., as it was before early 2000 when it joined with America Online in the biggest merger in U.S. history.

Envisioned as a way to build something new by marrying computer technology with more traditional television, print and other media, the expanded company saw sharp stock declines recently as the Securities and Exchange Commission announced inquiries into business deals by AOL.

"We believe that our new name better reflects the portfolio of our valuable businesses and ends any confusion between our corporate name and the America Online brand name for our investors, partners and the public," said a statement by CEO Richard Parsons.