AOL signs new search agreement with Google

AOL says Google will continue to offer up search results on its websites under a new five-year deal the companies signed this week.

AOL says Google will continue to offer up search results on its websites under a new five-year deal the companies signed this week.

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The agreement largely reinforces an arrangement that has been in place since 2005. But the new contract also expands their cooperation onto AOL mobile sites that appear on cell phones and other gadgets. And it will put AOL video content on Google Inc.'s YouTube video site for the first time.

New York-based AOL Inc. is led by former Google executive Tim Armstrong, who is in the midst of a major overhaul at the Web company.

Though AOL will not give out specific financial details, Armstrong called the deal a "home run" in an interview on Thursday and framed it as an important step in the turnaround effort.