Oct 29, 2010 14:29 GMT  ·  By

AOL is sticking to its guns and proceeding with its plan to reinvent itself as a media company, pushing original content on the web. But it's got some way to go, in the meantime the company is still heavily dependent on a few key assets like its homepage. In an effort to put a stop to the traffic slump, AOL is revamping the homepage on Monday, according to a report.

The Wall Street Journal is saying that the revamp, which hasn't been officially confirmed, will go live on Monday and will be the first step in a lengthier transformation process for the homepage.

The new page will contain more content, be it articles, photos or videos, which is in line with the company's overall strategy. It will also customize the type of content it displays, for example based on the time of day.

The plan is to increase the customization of the homepage to cater better to the visitors.

Local content will be emphasized, but the site will also learn the topics of interest of the users and try to surface content that is more likely to be relevant to each individual visitor.

On paper, AOL's plans sound solid enough, but the company hasn't managed to reverse its fortunes in the year and a half since CEO Tim Armstrong took over.

The company does have a believable narrative, it plans to become a content creator, one of the largest on the web, and, of course, profit from the advertising it serves.

Very recently it acquired one of the most popular technology blogs on the web, TechCrunch, as well as 5min Media, an online video platform.

Still, revenues have been falling and they've kept on falling even after AOL split from Time Warner. The company is set to reveal its financial results for the third quarter next week.