As leaked, Google takes a 5 per cent stake in AOL, a subsidiary of Time Warner, in exchange for a $1bn investment. In addition, Google gains access to more of AOL's content and will ensure that users of Google's instant messaging software can communicate with AIM users. The two companies also plan to collaborate on an online video service.What's next? Apple and Intel teaming up?!
The deal has been billed as "a global online advertising partnership."