Steve Rosenbush at Business Week:
Efforts to find a partner for Time Warner’s AOL Internet unit are taking longer than expected, according to a Time Warner executive. The media giant has been in discussions with Google and Microsoft, which are both interested in creating a joint venture with AOL. Time Warner had hoped to begin exclusive talks with one company or the other by Friday, Dec. 9, the executive says, who adds that in retrospect, that timetable was “optimistic.”
Both suitors still appeared to be in the running as of Dec. 11. But given the talks’ complexity, it’s not surprising that they’re dragging. It’s unclear at this point whether Time Warner will reach a deal with one or the other by the end of the month, as originally expected.