Google Sells 5% AOL Stake To Time Warner

Google has sold its once-coveted 5% stake in AOL to Time Warner for $283 million, according to a Securities and Exchange Commission filing made public this week, taking a $717 million loss on the $1 billion Google paid for the AOL share in 2005. The transaction was completed earlier this month and reported in the SEC filing, which also disclosed additional details on AOL’s finances. The Time Warner unit had a loss of $1.53 billion in 2008, but reported a profit of nearly $83 million in the first quarter of 2009