Yahoo! Gets OK for AOL Talks: Report

The new board of

Yahoo!

(YHOO)

cleared the way Tuesday for a fresh round of talks with

Time Warner

(TWX)

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) - Get Free Report

.

This article was written by a staff member of TheStreet.com.