Google’s filing with the Securities and Exchange Commission has given it the right to sell its 5 percent stake in Time Warner’s AOL Internet unit in July 2008.


Google will be able to sell its pending 5 percent stake in Time Warner’s AOL Internet unit in July 2008.

“Under the agreement for the purchase of the $1 billion stake, Google has the right as of July 1, 2008, to require a public offering of its stake, according to Google’s filing on Friday with the SEC.

The deal gives Time Warner the right to buy Google’s stake for stock or cash in lieu of a public offering, according to the filing.” [source]

In December Google had agreed to invest $1 billion to take a 5 percent stake of America Online. With the deal Google moved beyond text-based advertising and AOL sold graphical ads to Google’s ad network.

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