As it follows, the company’s new headquarters and its advertising and programming operations will be located at 770 Broadway. AOL is currently keeping mum about how many people will be relocated and only mentioned that it would continue to have significant operations in its other locations, such as Dulles, VA, as well as offices in Mountain View, CA.

“With the increasing fragmentation of online audiences, the best way to serve advertisers is to enable them to harness massive advertising networks that reach across the entire Internet, not just our AOL websites,” said Randy Falco, Chairman and CEO of AOL. “New York City is the center of advertising, so it makes perfect sense to locate our corporate headquarters here,” he added.

AOL’s new restructuring plan will combine its advertising platforms (Advertising.com, Tacoda, Third Screen Media, Lightningcast and ADTECH) into a new business division called "Platform A".

In a separate announcement, AOL stated that it had signed a new deal HP. Under the agreement, AOL will offer co-branded, localized versions of its portal, toolbar and search on HP desktop and notebook PCs sold worldwide. As expected, the co-branded portal will be set as the default homepage, and the co-branded toolbar and search will be default settings.