The Associated Press reports that Google's investment in Time Warner's AOL could result in an initial public offering for AOL as soon as 2008. An IPO would give Time Warner the opportunity to
capitalize on what the company hopes will be an Internet ad boom boosted by the partnership. In partnership documents filed to the Securities and Exchange Commission, it appears that Google has the
right to demand an IPO beginning in July 2008. Should Time Warner decline to acquiesce, it would then have the right to repurchase Google's stake based on a market valuation of its worth. Under the
new five-year deal, AOL has the right to freely use Google's technology, and has received an additional $300 million credit to advertise through Google's enormous network. Google in turn will let AOL
sell graphical ads on its Web site, and has now gained access to its huge video network.
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