AP story on AOL's change to subs and ads revenue model. Some quotes:
Kevin Conroy (nowAOL's executive vice president for Web brands) : "We've built that new business, and now we have an opportunity to focus on creating a different, a new balance, a better balance" between subscription and advertising."
Ted Leonsis: "Having two revenue streams inoculates you from the vagaries of the industry. We could have an advertising recession, and that would be really bad if you were just an advertising-driven company."

Update: Where are they now? AP story on Gerald Levin, Ted Turner, Steve Case and Bob Pittman.