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Will de Castro head AOL?

Jimmy de CastroAOL Time Warner (N:AOL) has now confirmed that it's hired an executive search firm - - Spencer Stuart - - to find a new CEO for its online operation, America Online. The story was first reported in the Wall Street Journal (7/12), which listed former AMFM head Jimmy de Castro (pictured) as one of the candidates for the post. de Castro recently joined AOL as one of the radio guys recruited by AOL Time Warner COO Bob Pittman (also a former radio guy) to help get the struggling online unit back on track.

Pittman's own future is also in doubt, according to the WSJ. He's been wearing two hats at AOL Time Warner - - as both COO of the entire company and interim CEO of America Online, which is based in Virginia. The WSJ story quotes "people close to Mr. Pittman" who say he's "growing tired of the pressures at AOL Time Warner, leaving open the possibility that he will choose to leave the company altogether rather than return to the New York headquarters."

An AOL Time Warner spokesperson is playing down that possibility, though, saying Friday that nothing has changed and Pittman is still COO of the company.

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