Activist fund Starboard Value sent a letter to AOL (AOL) late yesterday, arguing the company's...

|About: AOL Inc. (AOL)|By:, SA News Editor

Activist fund Starboard Value sent a letter to AOL (AOL) late yesterday, arguing the company's efforts to become an ad-supported online media entity are destroying shareholder value. Starboard says AOL, whose shares are down 38% YTD, is "deeply undervalued" and immediate action must be taken to stop investing "good money after bad."