Google Pays AOL $1 Billion For 5 Percent

CNN/ Reuters report the Google/AOL deal is final now:

“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.”

Here’s the press release on the Google/ AOL “alliance.” Some key issues:

* Creating an AOL Marketplace through white labeling of Google’s advertising technology - enabling AOL to sell search advertising directly to advertisers on AOL-owned properties;
* Expanding display advertising throughout the Google network;
* Making AOL content more accessible to Google Web crawlers;
* Collaborating in video search and showcasing AOL’s premium video service within Google Video;
* Enabling Google Talk and AIM instant messaging users to communicate with each other, provided certain conditions are met; and
* Providing AOL marketing credits for its Internet properties.