AOL Announces Flat-Rate Pricing Plan
Times Staff and Wire Reports
America Online Inc. unveiled a flat-rate price of $19.95 a month for unlimited Internet access to stop customer defections and will take up to $460 million in charges to revamp accounting methods, resulting in losses for its first and second quarters. The company also tapped Robert Pittman, the former chief executive of MTV Networks, to head its core consumer unit and bring a glitzier look to the leading online service. Dulles, Va.-based AOL shares rose $1 to $25.625 on the New York Stock Exchange.
