Amidst rumors it was trying to sell its tech properties, Aol reported quarterly results that showed its ad network business was pretty healthy (up 23 percent to $110 million) but that ad sales on its own properties were down 2 percent to $220 million. Aol CEO Tim Armstrong denied that TechCrunch and Engadget were for sale, but it’s pretty clear that the “double down on content” strategy needs some serious work. Earlier this week, a disgruntled shareholder pointed out some big holes in execution, calling for Aol to revisit its abandoned “AOL way” aggregation and content farm strategy, with very selective premium content investments. It’s not hard to conceive of a very consumer-focused Aol – didn’t it used to aspire to be the People magazine of the web? – with a general-purpose ad network and content farm to add scale. Would business and tech-focused titles fit?