AOL near deal with Google; Microsoft out

Time Warner Inc. ended talks with &to=' target=_blank>Microsoft Corp. Friday and entered exclusive negotiations with Google Inc. over a $1 billion (Ђ830 million) investment and a broader advertising partnership with America Online, executives close to the talks said.

Shutting out Microsoft sets the stage for a high-profile agreement between two titans of the Internet. Under the deal, expected to be announced as early as next week, Google would get a 5 percent stake in AOL, implying a $20 billion (Ђ16.7 billion) value for the unit, said one official with direct knowledge of Time Warner's negotiating position.

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