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AOL Reclaims Stake Owned by Google

AOL parent Time Warner Inc. (TWX) has repurchased a 5 percent stake in the dial-up ISP.

Google Inc. (GOOG) bought the sliver for $1 billion in 2006; Time Warner got it back for $283 million earlier in July, the company said Monday.

Time Warner is spinning off AOL into a separate company and the new AOL CEO – who moved over from Google, incidentally – wants to turn the firm into the Web’s top content provider. But as MarketWatch pointed out, AOL still depends on Google for ad revenue. Google and AOL have a search ad partnership that in 2008 gave AOL $678 million of its $2 billion total advertising revenue.

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