Just three years after buying into AOL, Google looks to have given up on the $1 billion (£513 million) it invested, after filing a report saying the stake could be "impaired."
The US Securities and Exchange Commission filing reflects the likelihood of Google having to take a hit over the AOL investment on its next earnings report. Getting it out in the open is the first stage.
The 5 per cent stake in AOL came about in 2005 as Google sought to avoid the Time-Warner-owned operation tying up with Microsoft on advertising.
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Google's declaration comes after rumours that Time Warner is planning to split AOL's web offerings from its ISP business.
Whatever the result of the filing, Google's first-half profits this year of $2.25 billion (£1.15 billion) mean there's no suggestion of financial trouble ahead for the search giant.