Yahoo!(YHOO Quote) is taking a pass on Time Warner's (TWX Quote) America Online, according to published reports.
The Internet giant decided not to pursue buying a stake in AOL after finding Time Warner's proposed terms unacceptable, according to reports in The Wall Street Journal and Reuters. Earlier reports suggested that Time Warner had rebuffed Yahoo! in a bid for a part of AOL's programming arm that valued the operation at $10 billion.
The news comes just a month after Yahoo! joined the bidding for AOL in a development reported by TheStreet.com. The apparently frenzied bidding for AOL struck some observers as a surprise given the company's long-held albatross status at parent Time Warner. Meanwhile, Time Warner is locked in a battle with activist shareholder Carl Icahn and is presumably feeling pressure to act in some fashion to revitalize the once-hot unit. ...
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