AOL INTERACTIVE SERVICES PRESIDENT RESIGNS

Jimmy de Castro Leaves Troubled Portal After 8 Months

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NEW YORK (AdAge.com) -- Jimmy de Castro, America Online's president of AOL Interactive Services, has left the troubled portal to "seek new opportunities," the AOL Time Warner unit said today in a statement.

AOL CEO Jon Miller announced the news earlier today to employees in a memo.

8 months on the job
Mr. de Castro's departure, after only eight months on the job, signals Mr. Miller's drive to consolidate functions and realign the company around a business plan that he will disclose Dec. 3.

Mr. de Castro, a gregarious and highly touted former radio executive, arrived at AOL in April. He was hired by then AOL chief executive Bob Pittman. Mr. de Castro is credited with mobilizing the AOL team charged with programming the new AOL 8.0 service.

"I think he [Mr. de Castro] was completely unique to this place when he came. The most important thing was his energy and his programming ideas," one AOL executive said.

Radio exec
Prior to his stint with AOL, Mr. de Castro founded Nothing But Net, a holding

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company for investments in new media and Internet ventures, and dabbled in restaurant and real estate investments. Mr. de Castro has a quarter century of experience in radio as a general manager of Chicago radio stations before going on to build the AMFM Radio Group. Mr. de Castro was also president and chief operating officer of Evergreen Media in the 1990s, and was vice chairman of Chancellor Media Corp. and president-CEO of its Radio Group. Chancellor changed its name to AMFM and in 2000 merged with Clear Channel Communications.

Early speculation
Company insiders speculated at the time of Mr. Miller's appointment in August that Mr. de Castro would likely become a casualty of reorganization.

Mr. de Castro's team will report to longtime AOL executive Ted Leonsis. Mr. Leonsis will handle Mr. de Castro's duties, which include the creation of new programming on the AOL 8.0 service.

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