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Time Warner Has to Choose Between Microsoft and Google

A deal that would combine advertising-related assets is expected

By Alexandra Veselin, Business News Editor

6th of December 2005, 16:05 GMT

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Time Warner Inc. and Microsoft Corp. are expected to close a deal that concerns online advertising service in order to compete with Google Inc. This statement was published in the Wall Street Journal from Tuesday.

The paper revealed the fact that a deal which would combine advertising-related assets could take place and that an agreement could be settled before the end
of the year. But, at the same time, the newspaper said that it might be possible for the Time Warner's America Online unit to change sides and instead make a deal with the competition: Google.

Some sources, mentioned by Reuters, said that Time Warner has been having talks with both Microsoft and Google concerning AOL. The sources also indicated that in the beginning Time Warner's discussions also involved a possible sale of the stake that it has in the Internet Unit. According to the latest rumors, the two companies are likely to back away from such offer and try to sign a smaller-scale partnership with AOL.

Carl Icahn, the billionaire investor was very critical regarding the strategy of Time Warner and said he would blame the board members if they forged a deal for AOL that valued the Internet provider too cheaply.

The publication also said that if talks between Microsoft and Time Warner are carried, AOL might even consider tolet go of the services provided by Google and switch to MSN service offered by Microsoft.

A change of sides would be less fortunate for Google, because 11 percent of the first-half revenue came from AOL. Some other substantial incomes are also generated by the contract.

When it comes to advertising sales, the Journal says that Microsoft and Time Warner are still negotiating. But sources familiar to the talks say that the companies will announce the outcome of the meetings until the third week of December.
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