Earlier this week, while in New York, BoomTown paid a visit to well-known media and Web exec Bob Pittman to hear about his newest venture.

And, as it turned out, it tasted pretty good.

That’s because the former MTV wunderkind, AOL top exec and currently, investor in a wide range of media and Web companies, is making tequila instead of Internet sites.

Thank God it’s Friday!

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What’s next for AOL?

Reviving the “You’ve Got Mail!” motto?

Or: “The Future. Now Available.”–set to music from “The Jetsons”?

What about: “So easy to use, no wonder it’s #1!”

Or maybe, it should just use a nice loooooooong busy signal as its calling card again?

Well, it could happen, now that new CEO Tim Armstrong has fallen prey to the siren call of the AOL brand name, after years of seeing the company wander in the anything-but-the-AOL wilderness.

Thus, he’s decided to try to welcome the prodigal brand back home, even as he prepares to spin it off in November from Time Warner.

Uh-oh.

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Oh, there had to be much, much gnashing of teeth in the corporate offices at the Time Warner Center in New York yesterday with news of the sale of DailyCandy to Comcast for $125 million.

Why?

Maybe because that tasty payment is going right into the hands of Bob Pittman’s Pilot Group Ventures, which bought the fashion and shopping newsletter business for $3 million in 2003.

This is certainly different from the situation almost exactly six years ago when Pittman–nicknamed “Pitchman” for his smooth business stylings–was driven out of then-AOL Time Warner on the proverbial rail.

If you want a taste of those once-grim times for Pittman, here is an excerpt from my book, “There Must Be a Pony in Here Somewhere: The AOL Time Warner Debacle and the Quest for a Digital Future.”

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Off with the Yahoo CEO’s head!
OK, maybe not so much, at least today.
Indeed, according to many sources, Jerry Yang’s head still sits squarely on his neck.
And, moreover, his job as CEO has not been usurped by Yahoo (YHOO) Chairman Roy Bostock, who was allegedly–as one rumor went–authorized by Yahoo’s board, instead of Yang, to restart [...]

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Yesterday, the powerful portfolio manager at Yahoo’s largest investor, Gordon Crawford of Capital Research Global Investors, a division of Capital Research & Management Co., made some very public and very harsh remarks directed at Yahoo CEO Jerry Yang for blowing the Microsoft deal.

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