Time Warner's AOL internet division is buying the social networking site Bebo for $850m (?417m) in cash.
Bebo is the third-biggest social networking site in the US, behind MySpace and Facebook.
AOL says that Bebo has more than 40 million members worldwide who view an average of 78 pages per day each.
Anyone else here use Bebo? I use it quite alot, but didn't expect AOL to buy it.
http://news.bbc.co.uk/1/hi/business/7294174.stm