Yahoo! Gets OK for AOL Talks: Report

The new board of Yahoo!(YHOO Quote) cleared the way Tuesday for a fresh round of talks with Time Warner(TWX Quote) over the future of Time Warner's AOL unit, the Financial Times reports.

The new round of talks potentially reignites negotiations for a combination of the two Internet businesses that stalled earlier this year.

The Financial Times reports the green light for the talks came as Yahoo!'s directors met for the first time since activist investor Carl Icahn was named a director. But active deal negotiations aren't underway at this time, the Financial Times adds, citing a person familiar with the company's thinking.

Talks between Yahoo! and Time Warner were ongoing earlier in 2008 as Yahoo tried to fend off a takeover bid from Microsoft(MSFT Quote).