AOL and Google have broken up.

Google has sold it's 5% stake in AOL back to Time-Warner, for about a 1/4 of the original purchase price (the initial investment was 1 billion, the repayment was only 283 million). Not that this is really a surprise, as Google had already written down 726 million of that initial investment.

That repayment puts AOL's value at about 5.7 billion (based on share price).

Not sure what this will mean (if anything) to AOL's search partnership with Google, which has helped AOL command a 3% share of the search pie. The current deal runs until December 2010.

AOL and Google have broken up.