STEVE INSKEEP, host: The business news starts with cost-cutting at America Online.  AOL is      eliminating 700 jobs, reducing costs as it's being courted by other      Internet companies.  NPR's Nova Safo reports.</s>STEVE INSKEEP, host: NOVA SAFO reporting:</s>STEVE INSKEEP, host: When AOL purchased Time Warner five years ago, their move was hailed as      the harbinger of the future, giants of old and new media combining to      create a powerful force.  Today, AOL is a division within Time Warner,      steadily losing its dial-up subscribers.  Most of the job cuts announced      yesterday were in its dial-up operation.</s>STEVE INSKEEP, host: But AOL is still a major player on the Internet, with more than 20      million subscribers, and this past summer it introduced a new      content-rich Web portal for non-subscribers, supported by online      advertising.  AOL's online broadcasts of the Live 8 concerts for Africa      in July drew higher ratings than the comparable TV broadcasts.  Now AOL      is in talks with Microsoft, Comcast, Yahoo! and Google, all of which want      to tap into that market share.</s>STEVE INSKEEP, host: Nova Safo, NPR News.
America Online, the new-media behemoth that bought Time Warner five years ago, announced 700 layoffs in its dial-up operations Wednesday. AOL is now a division of Time Warner and is being courted by other Internet companies.