{
  "docId": "019de06f-3e34-7498-b7ab-93d3124b7448",
  "docSlug": "86d8f17ffaaed8be61f8b36e2c739da4",
  "documentTitle": "Starboard Value | Activist Presentation Deck | 96 slides",
  "authorId": "starboard-value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-05-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 66,
  "pageCount": 96,
  "prevPage": 65,
  "nextPage": 67,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 54,
  "notes": "The slide uses a table to contrast AOL's metrics with a peer group mean/median, highlighting that the new group is more representative.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-3e34-7498-b7ab-93d3124b7448/66",
  "deckHref": "/decks/019de06f-3e34-7498-b7ab-93d3124b7448",
  "deckJsonHref": "/decks/019de06f-3e34-7498-b7ab-93d3124b7448.json",
  "deckAnchorHref": "/decks/019de06f-3e34-7498-b7ab-93d3124b7448#slide-66",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.08,
        "y": 0.81
      },
      "kind": "callout",
      "text": "On all key metrics, we believe the Independent Peer Group is far more appropriate than AOL's own inflated peer group.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8ee5ae05-26bd-49fa-9501-0c736569d153",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.4,
        "x": 0.08,
        "y": 0.28
      },
      "kind": "list",
      "text": "The right peer group is the foundation for compensation planning and relative performance. Unlike AOL's current Peer Group, the mean and median market cap and revenue of the Independent Peer Group fall within both the ISS and Glass Lewis guidelines.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f33b2721-a4d3-4de9-856d-5c10b023e87f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.7,
        "x": 0.08,
        "y": 0.87
      },
      "kind": "source-note",
      "text": "Source: Data from Capital IQ. (1) Independent Peer Group: ACOM, CCO, ELNK, CGI, IACI, IPG, LAMR, NYT, UNTD, VCI, VCLK, WBMD, WPO, and YHOO...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7e91e033-411d-4b1f-bb2e-f478a56f2939",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.5,
        "x": 0.46,
        "y": 0.245
      },
      "kind": "table",
      "text": "Independent Peer Group for AOL table showing Market Cap, Revenue, and EBITDA for 13 companies plus mean, median, and AOL comparison.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6a6bb2a0-d179-4346-b162-365c9780e5a7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.85,
        "x": 0.08,
        "y": 0.08
      },
      "kind": "title",
      "text": "The independent compensation consulting firm we engaged constructed a far more appropriate peer group for AOL",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4bda2084-7c3e-4bd6-a448-535917b029bc",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "f336a92c-283b-4810-990d-15e384865da1",
      "evidence": "Comparing AOL's current peer group against an 'Independent Peer Group' to argue for better alignment with ISS/Glass Lewis guidelines.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}