It seems that Time Warner CEO Jeff Bewkes, who Silicon Alley Insider says was never a fan of synergy to begin with, has completely abandoned the idea when it comes to AOL. The site reports that Turner Broadcasting, Time Warner’s cable unit, just signed a comprehensive content and advertising deal with Yahoo—AOL’s arch enemy.
As part of the deal, Turner will give Yahoo Sports exclusive content while Yahoo provides sports ad inventory—this will cover the NBA, the PGA, and NASCAR. Meanwhile, Yahoo will help Turner target ads. AOL could have really used that revenue, too. Weird. The entire deal is non-exclusive in terms of ad revenue, incidentally—Turner can still ink a separate agreement with AOL, who we presume was just down the hall while this all went down.