AOL agrees to sell over 800 patents to Microsoft

On April 9, 2012, AOL agreed to sell 800 patents and related applications, AND a nonexclusive license to its remaining portfolio of about 300 patents, to Microsoft, for over 1 billion dollars. Also, the deal includes the sale of an AOL unit on which AOL expects to record a capital loss for tax purposes. Furthermore, if the deal falls through there is a termination fee of around 211 million, according to Fox news.