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Google Sheds AOL Position
Google sold back its 5% stake in AOL for $283 million to Time Warner, a loss of better than $700 million
Aug. 2, 2009 09:15 PM
Google sold back its 5% stake in AOL for $283 million to Time Warner, a loss of better than $700 million, which Google wrote off in January. According to Reuters the numbers value AOL at $5.7 billion. AOL is supposed to spin out later this year. Google bought the position in 2005 for a billion dollars when it was supposed to be worth $20 billion as an anti-Microsoft move. Google realized $678 million off of AOL’s search advertising last year. That partnership soldiers on.
About Maureen O'GaraMaureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara
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