Google and AOL form alliance

The Google juggernaut rolls onward, with the search engine company supposedly outbidding Microsoft for a stake in America Online and a corresponding partnership. The Register has details on the deal:
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.

The deal has been billed as "a global online advertising partnership."

What's next? Apple and Intel teaming up?!
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