Microsoft gives Bing a chance, Time Warner quits on AOL

Good day for: Giving it another try, as Microsoft is rolling out a new Internet search site, Bing. The software hopes the new search service will catch on, which its two previous efforts -- Live Search and MSN Search -- failed to do. One way Microsoft hopes to increase Bing's chances is by spending $100 million on advertising for the service, which is far more than it spent promoting its Live Search. (AP in Yahoo Finance)

Bad day for: Giving it another try, as Time Warner is spinning off AOL after nearly a decade of efforts to combine the publishing giant and the Internet provider into a new-age media empire. Former Google ad executive Tim Armstrong, hired in the spring to restore the image of what used to be called America Online, will run AOL as a second company. (AP in the Los Angeles Times)

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