AOL Time Warner and Philips Electronics have formed a strategic marketing alliance to cross-promote their companies' products.
Under terms of the multi-year agreement, will co-develop new e-commerce sites showcasing products and services from Philips in AOL's virtual mall, and include certain related content from AOL Time Warner online properties. These new areas will be available within the Shop@ destinations across several America Online brands. Philips will be promoted across several in AOL Time Warner's print and broadcast properties as well, including Turner Broadcast networks and CNN.
The two companies will also continue cooperating on several initiatives to develop the next generation of set-top boxes and online interactive services.
Financial terms of the deal were not disclosed - Richard Tedesco