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Google acquires stake in AOL

NEW YORK (Reuters) – Google Inc. and America Online Inc. Tuesday expanded their search and advertising alliance to include video and instant messaging, shutting out Microsoft Corp., which had fought hard for a deal with Time Warner Inc.’s AOL unit. America Online said Google had agreed to invest $1 billion to take a 5 percent stake in AOL, as part of an enhanced pact where Google will move beyond text-based advertising to allow AOL to sell graphical ads to Google’s fast-growing ad network. More

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