Barron's had a piece on it that made sense. AOL bought back it's stake from GOOG for $283 million--which equates to $53 a share.
Current market cap is $2.4 billion, with cash flow of almost $1 billion. On December 9, the shares trade regular way.AOL still has properties that would be interesting to anothe rparty--Mapquest, ICQ, Bebo and it's dial-up business.
The stock is a buy.