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  "documentTitle": "Starboard Value | Activist Presentation Deck | 96 slides",
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  "authorName": "Starboard Value",
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  "documentKindLabel": "Activist deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-05-01 00:00:00",
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  "pageNumber": 14,
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  "density": "balanced",
  "nDataPoints": 21,
  "notes": "The slide uses a red box to highlight the specific Display segments (Free Premium Content and Patch) that are driving the losses.",
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      "kind": "list",
      "text": "We are not the only ones who believe that AOL is losing over $500 million in its Display business. In fact, research analysts that cover the Company publicly estimate that AOL loses over $500 million in its Display business.",
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      "kind": "paragraph",
      "text": "AOL has used the valuable cash flows generated by its declining Access and Search businesses to fund what we believe are massive losses of more than $500 million per year in its Display advertising business in pursuit of its goal of becoming a premium online media company. These losses have obscured what would otherwise be a highly profitable company.",
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      "kind": "source-note",
      "text": "Footnotes (1)-(4) detailing methodology and sources for the data presented in the table.",
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      "kind": "table",
      "text": "CY 2011 Operating Performance table showing Revenue, Adjusted EBITDA, and Adj. EBITDA Margin for Access, Search, Advertising Network, Display - Free Premium Content, Display - Patch, and Other.",
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      "kind": "title",
      "text": "Currently, we believe the Display business is losing over $500 million per year",
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