http://mediastockblog.com/article/4815

An article (paid sub req’d) in this morning’s Wall Street Journal confirms that Time Warner has decided to partner with Microsoft in online advertising. Key points:

AOL will drop Google as its primary provider for search and use MSN instead.
AOL and MSN advertising-related assets will be combined in a JV with little or no money changing hands.
A joint ad sales force will be created to sell ads on MSN and AOL.
An automated platform will be created to serve ads to both sites (presumably for search, as AOL acquired Advertising.com to handle non-search-related ads).
Microsoft will not acquire an equity stake in AOL.
Deal to be announced in the third week of December.

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