AOL, once one of the most-trafficked web portals, began rolling out a redesigned homepage today that incorporates access to social networks and multiple email accounts as part of the company's new open strategy.

The biggest feature on the new AOL homepage is a "My Networks" tab that lets users log into their accounts on Facebook, MySpace, Twitter and AOL-owned Bebo directly from the homepage. AOL is also letting visitors to the portal access multiple email accounts -- including Gmail, Yahoo and Hotmail -- in addition to AOL email accounts.

The redesign is a big part of AOL's effort to open up and reinvigorate itself as traffic moves toward newer web properties, such as Facebook and MySpace.

Other upgrades include basic cosmetic changes and a "My Stuff" tab, which users can customize with buttons to websites like eBay and TMZ, as well as links to sports and financial news

In other AOL news, the long-rumored merger between the company and Yahoo may soon be underway, according to a Reuters report. A source close to the negotiations said both companies are examining each other's books to weigh the pros and cons of a potential merger.