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  "documentTitle": "AOL, Inc. (AOL)",
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      "text": "However, the Company’s reactive changes to date, while a step in the right direction, have for the most part failed to address the serious operational issues facing the Company, namely the current Board’s unwavering pursuit of a high-cost, value-destroying status-quo strategy.",
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      "text": "Since our first public letter on December 21, 2011, AOL’s stock price has significantly outperformed both the market and its peers. We believe the recent increase in AOL’s stock price is in large part attributable to Starboard’s involvement, the actions taken in response to our involvement, and our plans to significantly increase value at AOL.",
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      "text": "Our involvement in AOL over the past 6 months has been constructive and has yielded positive benefits for all shareholders. During this time, and we believe largely in response to our involvement, the Company has: Agreed to sell more than 800 of its patents and their related patent applications to Microsoft for $1.056 billion. Committed to returning all of the proceeds of the patent transaction to shareholders, after first stating their intention of only returning a “significant portion” of the proceeds. Agreed to move to a segmented public reporting format.",
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