AOL Looking at Yahoo Merger: Report

    DALLAS, TX - FEBRUARY 05:  Chairman and CEO of  Aol Tim Armstrong poses with AOL at the Maxim Party Powered by Motorola Xoom at Centennial Hall at Fair Park on February 5, 2011 in Dallas, Texas.  (Photo by Michael Kovac/Getty Images for AOL) *** Local Caption *** Tim Armstrong

    Michael Kovac / Getty Images

    Now that Yahoo CEO Carol Bartz is fired, AOL's chief executive Tim Armstrong has reportedly approached Yahoo about a possible merger. Armstrong asked Bartz last year, but she turned him down. Both AOL and Yahoo are struggling to regain their places at the top of Internet business. At its peak, Yahoo was worth $80 billion. Now, suffering from the rise of Google and Facebook, it is worth only $17 billion. AOL is valued at only $1.68 billion and has lost almost $800 million since it left Time Warner in 2009. Bother are also dealing with controversies lately, with Yahoo's sudden ousting of Bartz and AOL's shifting messages regarding the firing of TechCrunch's Michael Arrington.

    Read it at The Guardian