• Silicon Alley Insider/Reuters, Friday, July 10, 2009 2:14 PM

We're six days shy of Tim Armstrong's 100th day at the helm of AOL, and Silicon Alley Insider's Nicholas Carlson says that Armstrong and co. are already moving forward with their plan to revamp the company. Said plan includes expanding the mini-brands in AOL's MediaGlow content business through acquisitions and hiring; targeting the right mix of premium advertising big brands and Google-like self-service ads for smaller businesses; trying to tap the local advertising market through local sites Patch, Going.com and MapQuest; and enhancing AOL's communications products AIM, email and ICQ.

Meanwhile, AOL is also planning on dumping some of its assets, although Bebo, the social network it bought for $850 million last year, is not on that list, Armstrong tells Reuters. He said Bebo still has "great value" and that it will be moved to a new unit of the company called AOL Ventures, where work will be done on improving the site-perhaps for a sale at point, Reuters says. Armstrong declined to give specifics on other assets under review for a sale.

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