I know they had to do it. I know it makes perfect sense in a clever way. But that don't make it purdy.
Co-branding gone bad. 
I'm not going to bother stepping up to any soap boxes over this one. But it's just more evidence that co-branding, while it may make absolute pefect business sense, rarely looks good. It rarely bolsters either brand's image. (Speaking from purely a visual-branding perspective.)
Just remember the little folk when you do the merger. ;D
Seems to me they could have silhouetted the little guy and it still would have read correctly, with the added bonus of following the style already set in place. Whoever drew it though, blew it. Those outlines are all wrong. I'm happy someone else agrees with me. The ad has been an eyesore on their homepage for too long (or so it seems).
Ewww.
AOL + Typophile ...
just for kicks.
Captured from web.archive.org on 18 Oct 2013. view this capture