AOL and Yahoo are getting pounded by recent stock market gyrations. Yahoo is hovering around a price where the value of its Asian assets might make it essentially a free acquisition. Mathew Ingram explains why AOL’s modest growth in ad sales – the first time since 2008 – were less impressive than Wall Street hoped. Some wags are suggesting Time Warner should re-acquire AOL, as it could boost Time Inc.’s online strategy and could be cheaper than other online-only alternatives. Of course, all this could change with market oscillations, but it points out how the once-dominant online media business model has shifted from portal to search and social network. Still, both companies have big customer bases and valuable relationships with advertisers. Here’s some ways Yahoo could grow.