Report: Microsoft Could Buy AOL?

Posted: June 6, 2010 in Tech

Shares of AOL rose 1.3 percent despite a massive sell-off in the broader indexes after reports circulated that Microsoft is ready to purchase the popular web portal, which would then be used to outsource web search to the Bing search engine. AOL is valued at about $2.3 billion.

AOL CEO Tim Armstrong has disclosed that the company has stepped up its efforts to enter into a new search engine deal. According to Armstrong, the company has held several meetings with Google officials.

While those discussions are still ongoing, the conclusion could be an outright sale of the company to Microsoft. Both AOL and Microsoft declined comment on the matter.

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