• TechCrunch, Tuesday, August 3, 2010 1:46 PM

Out in Silicon Valley, AOL just subleased a three-story building from Google, reports TechCrunch. AOL's leaving its existing Mountain View offices in favor of the new Palo Alto digs. "AOL only needs a third of the space they've leased and are moving into the third floor," writes TechCrunch. "But instead of leasing a smaller building, they decided to take far more than they need and sublet to startups." That's according to Brad Garlinghouse, the most senior AOL exec on the west coast.

SSE Labs a Stanford University-affiliated startup incubator has reportedly already signed up to move in. "We're all about fostering a culture around creativity and new ideas which is why we plan to sublease our space to entrepreneurs and start-ups in the valley," adds Garlinghouse. The sentiment is in line with the strategy recently laid out by David Eun, president of AOL's Media and Studios division. Revolving around content and content-based services, Eun announced plans to hire "hundreds" of journalists, editors, and various multimedia creators over the next year.

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