NEW YORK (Reuters) - Time Warner Inc. has received about $300 million in promotion credits from Google Inc. as part of its previously announced deal, a top executive said on Tuesday.
"Google has given us promotional dollar credits to drive traffic to the tune of about $300 million," Jeffrey Bewkes, Time Warner chief operating officer, told investors on Tuesday at an investors conference.
AOL can use the credits to bid for advertising search terms on Google.
The two companies in December expanded their partnership, which included Google purchasing a 5 percent stake, worth $1 billion, in AOL.
