Google buys stake in AOL and inks advertising deal
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Google has invested nearly $1 billion for a 5 percent stake in AOL and to enter into an advertising partnership. I wonder if we will see Google Text ads nn AOL Instant Messenger (AIM) conversations in the near future.
Google Inc. agreed to invest $1 billion for a 5 percent stake in Time Warner Inc.’s America Online Inc. and enter into an advertising partnership. The companies signed the agreements Friday, Google said in a filing Wednesday with the Securities and Exchange Commission. The partnership lets AOL use Google’s search and advertising software and also enables AOL to sell its own text-based advertising. Shares of Google jumped $17.78 to $394.98.
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