Yahoo and Time Warner step up combination talks
By Erina Lin, Wednesday 5 March 2008 at 19:06 :: Media Ownership :: #1360 :: rss
Yahoo and Time Warner have stepped up talks for an alternative to Microsoft’s offer, according to the Wall Street Journal Wednesday, citing people familiar with the matter.
The talks underway would involve folding AOL into Yahoo, while Time Warner takes a sizable minority stake in the combined entity.
Time Warner is now putting the finishing touches on the proposal. If the deal eventually succeeds, it would save about US$1 billion in cost annually. The talks are focused around creating an online ad behemoth, including AOL, PaidContent reported.
Last month Microsoft made a $41 billion offer to acquire Yahoo, which was turned down as undervaluing the business.
Yahoo and Time Warner were not yet available for comment, Reuters reported.
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