AOL eyes sale of MapQuest - Rumour

Thu Nov 19 2009, 17:03 PM UTC

AOL is reportedly considering selling its online map service MapQuest as part of plans to streamline the company after it is spun off from Time Warner at the beginning of next month. The news follows rumours that both its social networking site Bebo and instant messaging operation ICQ could also be sold.

Deal Details

  • Status rumoured
  • Seller Aol.

Sources suggest that other firms with a presence in the mapping sector, notably Microsoft, could be interested in MapQuest. But it is unclear whether any company would be willing to fork out a large sum for the service. AOL paid USD1.1bn in stock to acquire the firm in 1999.

MapQuest has struggled over the past year as it loses market share to Google Maps, which now commands 45% of the market compared with MapQuest's 35%. However, its sale would appear to go against the goal of AOL CEO Tim Armstrong. He said in June that ‘local’ would be a "core area of focus and investment for AOL" following acquisitions of local content websitesPatch Media and Going.

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