AOL reportedly in merge talks with YahooSeptember 10, 2011 - 16:14 AMT PanARMENIAN.Net - AOL Inc. (AOL) Chief Executive Officer Tim Armstrong is talking with advisers to Yahoo! Inc. to gauge its interest in combining the companies after the ouster of CEO Carol Bartz, Bloomberg reported citing two people familiar with the matter. Armstrong is discussing options for a combination aimed at strengthening the two Internet companies, said the people, who wouldn’t be identified because the talks aren’t public. He has talked with private equity firms and investment bankers from Allen & Co. working with Yahoo, one person said. Armstrong was interested in a merger with Yahoo last year and was rebuffed while Bartz was at the helm, one person said. Her departure prompted him to reconsider the option, and, under one scenario now being considered, Yahoo would acquire AOL and Armstrong would become CEO of the combined company, the person said. Yahoo is unlikely to be interested in a deal for AOL at this time given the company’s losses and declining revenue, according to one person familiar with the matter. AOL’s market value is about $1.6 billion, while Yahoo’s is about $18.2 billion. Graham James, a spokesman for AOL, and Kim Rubey, spokeswoman for Yahoo, declined to comment. AOL and Yahoo have been struggling to compete against Internet companies such as Google Inc. and Facebook Inc. AOL has lost almost $800 million since it was spun off from Time Warner Inc. in 2009. The Internet pioneer has struggled to make money from online advertising as its profitable dial-up Internet access business declines. AOL is also using Allen & Co. to consider its strategic options. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. |