AOL Time Warner ( AOL) will reportedly name cable executive Jonathan Miller to head its America Online flagship following the forced resignation of Robert Pittman last month.

Meanwhile, PurchasePro ( PPRO), a one-time software high-flier-turned-penny stock, confirmed that the Securities and Exchange Commission is probing it and seeking information about other companies. Reports last week said the agency was probing AOL's in transactions with the business software firm.

Miller most recently worked for Barry Diller at his USA Interactive ( USAI) following stints at Home Shopping Network, the NBA and Nickelodeon. Some saw his cable television experience as reflecting AOL's desire for more sales synergy among its far-flung media properties and most said his outsider status was sought to shake up an increasingly ossified culture inside the Internet division.

In its press statement, PurchasePro confirmed the SEC was seeking information from it regarding other companies. The Las Vegas firm said it was cooperating with the SEC, both in the investigation into its activities as well the SEC's interest in other companies.

AOL Time Warner was trading up 1.4% to $10.09 on the Instinet premarket session.

If you liked this article you might like

Spain to Play Netherlands for World Cup

Spain to Play Netherlands for World Cup

Wal-Mart: Analysts' Upgrades, Downgrades

Wal-Mart: Analysts' Upgrades, Downgrades

Netherlands Advances to World Cup Final

Netherlands Advances to World Cup Final

Apple: Analysts' Upgrades, Downgrades

Apple: Analysts' Upgrades, Downgrades

World Markets Mostly Lower Monday

World Markets Mostly Lower Monday