Google/AOL Close in on Closing

Well, they’re getting closer. After stating their intentions back in December, Google and AOL have signed definitive agreements outlining their new relationship. So says GOOG’s latest SEC filing, which indicates the two expect to close the deal in the second quarter.

Included, of course, is Google’s $1 billion investment to take a 5 percent equity stake in the Time Warner property. As a reminder, the other provisions call for Google to (I’m quoting from the annual report here):

  • create an AOL Marketplace through white labeling of our advertising technology.
  • expand display advertising throughout our network.
  • collaborate in video search and showcase AOL’s premium video service within Google Video.
  • enable Google Talk and AIM instant messaging users to communicate with each other, provided certain conditions are met.
  • provide AOL marketing credits for its Internet properties.

[tip o’ the hat to SEW blog]

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