AOL Keen on Merger, Yahoo Is Not — Again (Updated)

AOL CEO Tim Armstrong has apparently again reached out to the company about a possible merger but Yahoo says it has “zero interest”

Last Updated: September 9, 2011 @ 1:34 PM

AOL is after another high-profile merger, according to Bloomberg, but its intended partner is not having any of it.

TheWrap has confirmed that Yahoo has "zero internet" in merging with its fellow tech company.

Tim Armstrong, Chairman and CEO of the one-time Internet giant, had reportedly reached out to individuals close to Yahoo to see if the company would be interested in a merger, something Armstrong also pursued last year.

The last time around Yahoo CEO Carol Bartz nixed the deal, but Bartz was fired Tuesday and proceeded to make quite a scene of it.

Also Read: How to Fix Yahoo: The Innovator’s Dilemma (Exclusive)

Armstrong believes the deal would benefit both companies — two former tech leaders since eclipsed by the likes of Facebook and Google. Both have struggled for direction for some time now, and neither has been able to stop the decline in their respective market values.

But even before Yahoo denied any interest, there was a great deal of doubt surrounding the proposed deal. CNBC quickly reported that a source close to Yahoo denied that there was any interest, while other tech writers wondered how serious this rumor could be if it leaked so early.

An AOL spokesperson declined to comment.