AOL trumpets version 8.0
Published: 10 Oct 2002 15:44 BST
America Online has quietly released the latest version of its popular online service, hoping it will be the jolt the company needs to reverse its sagging fortunes.
AOL 8.0 is now available within the firm's proprietary service. Subscribers can download AOL 8.0 by typing "upgrade" into the keyword box, where a window appears to walk people through the process.
AOL, a division of media giant AOL Time Warner, is planning to officially launch AOL 8.0 next Tuesday in New York. The splashy event will be hosted by comedian Dana Carvey in Lincoln Centre's Avery Fisher Hall and will feature a musical performance by pop singer Alanis Morissette. The company has enlisted 2,000 AOL members to participate in the event.
The upgrade has been touted as "the most important product introduction" by AOL chief executive Jonathan Miller. AOL executives have been hyping version 8.0 as the foundation of a new strategy of offering exclusive programming and services. Executives have compared AOL's new strategic focus on its programming to the business models of television networks and premium cable channels such as Home Box Office.
Since the launch of AOL 7.0 last year, the online giant has come under fire. Its management has been replaced by a new breed of executives bent on rekindling the service to its former glory. Meanwhile, an ongoing investigation by the Securities and Exchange Commission continues to be AOL's biggest headache.
The SEC investigation has put the spotlight on AOL's accounting of revenue over the past two years and has fueled an internal coup against AOL executives such as Robert Pittman and Steve Case. Pittman left AOL in July, and some large shareholders such as AOL Time Warner vice chairman Ted Turner are reportedly trying to oust Case, the company's chairman.
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