Does Microsoft's $44.6 billion Yahoo bid put AOL in play? Premarket trading sent Time Warner shares up 7 percent , indicating some investors think so. DealBook agrees, saying Google might target the Time Warner company for its advertising platform, "Internet service" and "Web site." Google already owns a 5 percent stake in AOL. And AOL is better at wining and dining advertisers the old-fashioned way; Google might buy the company just to bulk up its sales force. As for the rest of AOL? I don't know why Google bought even 5 percent of that.

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