America Online, Dulles, Va., and Netscape Communications, Mountain View, Calif., today confirmed they are in merger negotiations under which AOL would buy Netscape in a stock swap valued at roughly $4 billion. However, both sides cautioned the deal is not complete, with Netscape due to release its yearend results Nov. 24. AOL's agency of record is Gotham, New York. Netscape has used Kirshenbaum Bond & Partners on a project basis. Unclear is how the deal would affect competitor Microsoft Corp., Redmond, Wash., whose Internet Explorer is the default browser on AOL.
Copyright November 1998, Crain Communications Inc.