Published on 2005-12-19 16:20:33
The rumor is confirmed, and Google Inc. is buying a 5 percent stake in Dulles-based America Online Inc. for $1 billion as part of a far-reaching business and advertising partnership aimed at boosting AOL's financial prospects as the Internet service struggles with the loss of millions of subscribers.
The five-year deal gives AOL new life by offering it numerous ways to garner more of the billions of dollars being spent on Internet advertising. It also deepens AOL's relationship with Google, the leading gateway to Internet sites for millions of computer users.
Member of the PHP Magazine Network, Copyright (C) 2005-2009 phpmagazine.net All Rights Reserved