Electronic Arts has created a new division to handle the company's increasing Internet operations. The new division will answer to EA president and COO John Riccitiello and will be based out of EA's Redwood City offices. The division will be responsible for publishing content for the internet as well as operating a series of online gaming sites including AOL's Game Channel. Pending shareholder and Securities and Exchange Commission approval, Electronic Arts plans to issue a new class of shares, Electronic Arts B Common, tied to the performance of the internet division and intends to file for an IPO at a later date. Electronic Arts and its employees will hold the majority of the new shares, but ten percent of the shares and warrants for an additional five percent will go to AOL as part of their new strategic relationship with EA.