Yahoo Inc and Time Warner Inc's AOL unit are engaged in "meaningful" due diligence about a possible combination, but a deal is not imminent, a person familiar with the talks said on Wednesday (29 Oct).
Talks between the two sides have advanced in the past "couple of weeks" and are currently focused on what a combined company might look like and where costs could be saved, said the source, who was not authorised to speak publicly because the discussions are confidential.