Microsoft has emerged as the frontrunner in talks over the potential sale of a stake in America Online (AOL).
But several issues could delay any potential transaction.
The New York Timesreports one issue is whether such an alliance would be another risky partnership for Time Warner, which is also looking at whether a new partner at AOL could help Time Warner navigate the digital world.
Microsoft approached AOL several months ago to discuss joint ventures, but any agreement is still likely weeks away.
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Last week Time Warner chairman and chief executive Richard Parsons acknowledged the talks, but he said there was uncertainty whether a deal would even be reached.
AP