Google, AOL detail partnership

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Google, AOL detail partnership

Google has finalized the details of its expanded partnership with Time Warner’s America Online subsidiary, including the acquisition of a 5 percent stake in AOL for $1 billion, Google said Wednesday in a filing with the U.S. Securities and Exchange Commission.

The partnership’s definitive agreements, which also include a series of commercial arrangements, were signed on Friday, March 24, and the investment will close in the second quarter of this year, Google said.

Read the complete story here. (PC World)