Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
Summary: AOL announced its acquisition of Relegence, a subscription-based company which provides financial information from over 20,000 content sources. Details of the transaction have not been released, but the deal may be worth close to $65 million according to Globes, an Israeli business publication. Privately-held Relegence has a staff of 60 employees located in New York, London and Tel Aviv, and is the fifth acquisition for AOL parent Time Warner's internet division since the beginning of 2006. AOL has been making changes to attract more online advertising, and revenue from ads jumped 46% in the third quarter.
Related Links: Relegence home page • Additional coverage: CNET News.com. Commentary: Time Warner Considers Cutting AOL Loose • Time Warner Discusses AOL and Online Ad Revenue Growth • AOL Restructures - Again
Potentially impacted stocks and ETFs: Time Warner (NYSE:TWX) • Competitors: Yahoo (YHOO), Google (NASDAQ:GOOG)
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