Time Warner Inc paid $283 million for Google Inc's 5 percent stake in AOL, the Internet company said in a U.S. regulatory filing on Monday.
Time Warner, which plans to spin off AOL by the end of the year, bought the stake from Google on July 8, AOL said in the filing with the U.S. Securities and Exchange Commission.
The price that the company paid for Google's stake implies that AOL has a total value of about $5.7 billion.
The filing is a registration statement with the government that AOL must file before its long-expected separation from Time Warner, and brings the company one step closer to ending a troublesome eight-year-old merger. Current Time Warner shareholders are expected to be holders of the new AOL shares once the company is separated.
AOL Chief Executive Tim Armstrong told Reuters last week the company will focus primarily on being a Web advertising business.
In its registration statement, AOL said that it expects to incur up to about $90 million of additional restructuring charges in the last nine months of 2009.
Time Warner, which plans to spin off AOL by the end of the year, bought the stake from Google on July 8, AOL said in the filing with the U.S. Securities and Exchange Commission.
The price that the company paid for Google's stake implies that AOL has a total value of about $5.7 billion.
The filing is a registration statement with the government that AOL must file before its long-expected separation from Time Warner, and brings the company one step closer to ending a troublesome eight-year-old merger. Current Time Warner shareholders are expected to be holders of the new AOL shares once the company is separated.
AOL Chief Executive Tim Armstrong told Reuters last week the company will focus primarily on being a Web advertising business.
In its registration statement, AOL said that it expects to incur up to about $90 million of additional restructuring charges in the last nine months of 2009.
