AOL and Yahoo! bosses get busy on Wall Street

NEWS It's been a month of buying and selling for two of the world's most high-profile media tycoons. AOL Time Warner chief Steve Case splashed out $27.4m to scoop up one million shares in the media giant. The figure is based on Friday's closing price of $27.36. The news pushed AOL's share price up 7.5 per cent. Case said in a statement to the Securities and Exchange Commission: "This purchase underscores the confidence I have in the company and its growth prospects." The move contrasts activities at Yahoo! Where outgoing president and COO Jeff Mallett sold off 500,000 shares in the company towards the end of January totting-up about $9.5m in proceeds from shares ranging from $18.66 to $19.94. The sell-off began a week after he announced he was leaving.