In a press conference given in Los Angeles yesterday, Time Warner Chief Richard Parsons confirmed speculation that its America Online unit will not be sold. However, he did say that the company is
continuing negotiations with Microsoft and Google over a possible partnership. Meanwhile, Google, which provides AOL with search technology and advertising revenue, warned investors that a loss of
AOL's business due to a new partnership with Microsoft would negatively impact earnings and future growth. AOL represents about 10 percent of Google's revenue.
Read the whole story at Associated Press »
