BulletProofBlog the blog on crisis communications

After a nine-year rocky marriage, Time Warner finally announced last Thursday that it will spin off AOL as an independent, publicly-traded company by the end 2009. The once massive Internet pioneer, formerly known as America Online, will be free again to venture into the business world without the restraints of parent company Time Warner. The trouble is that Wall Street isn' t exactly brimming with enthusiasm for the company' s return.

But AOL does have at least one ace up its sleeve - namely its globally recognized brand. Bruised as it is, that brand can be reinvigorated and become the platform for growth

According to Friday' s Washington Post, Time Warner chief executive Jeffrey L. Bewkes says AOL will have a "better opportunity to achieve its potential as a leading independent Internet company." With only a few months to strategize before hitting the ticker, AOL must take immediate and calculated steps to begin to prove its worth. For new AOL chief executive and former Google advertising chief, Tim Armstrong, this means harnessing the company' s highly recognized brand and positioning it as a strong competitor in the Internet market.

To be sure, the company' s efforts in the social media space have not dominated the marketplace, but AOL' s status as an "outsider" gives them the opportunity to find the next, radical solution and exploit it. Inch-by-inch improvement and modifications are not the tickets for success in the age of the blogger.

And by leveraging its profile - and skillfully playing the expectations game - AOL can use transparency to its advantage and generate an ongoing sense of excitement among investors and consumers.

Brands matter - and here is one with at least one more shot at growth.

Michael W. Robinson is Senior Vice President of Corporate and Finance at Levick Strategic Communications and a contributing author to Bulletproof Blog.