AOL to buy Bebo for just under 1 billion

NEW YORK--(BUSINESS WIRE)--AOL announced today that it has entered into an agreement to acquire
Bebo (http://www.bebo.com), a leading
global social media network. Together with its AIM and ICQ personal
communications network, the acquisition will give AOL a premier position
in the fast growing world of social media with a network of
approximately 80 million unique users.