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Source: AOL Spin Out In The Cards

An AOL insider tells Kara Swisher that ex-Googler and new Chairman and CEO Tim Armstrong "would not have taken the job if the plans for a spin out of AOL were not in place and it's in everyone's interests to signal that it's a go right away...The only catch is the poor economy, but even that should not prevent Time Warner from doing what's right to finally fix AOL."

Meanwhile, Armstrong is scheduled to formerly address the company today and has chosen to do so from AOL's erstwhile headquarters in Dulles, Va. Sources say he will give the address alongside AOL's vice chairman emeritus, Ted Leonsis, who could be making a comeback as a major player at the Time Warner company. The source also said that former AOL CEO Steve Case could also make an appearance.

"It's a smart move to go to (the Dulles staff) directly first," says one AOLer. "The last regime pretty much shut them out...and that created bitterness, when we need to be unified."

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