Google Buys A Bit of AOL

Late last Thursday night, Time-Warner reached an agreement with Google whereby the search giant to soon rule the world would pay $1 billion for a five percent stake in AOL. The deal is a blow to, dare we say, old school, Microsoft which had, for a long time, been in talks with AOL regarding a content deal that would have involved Time-Warner's print, television and online properties and Microsoft's search and ad operations. The deal was sealed during the Time Warner Christmas party with Microsoft's execs in one conference room, Google's in another and Time-Warner execs running between the two.