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AOL Time Warner talking to NTL

AOL Time Warner is in talks with UK-based telecom giant NTL about a range of joint ventures, The Wall Street Journal reports.

NTL, the United Kingdom's largest cable and telecommunications company, said Monday the two companies had reached agreement on an outline term sheet. A final agreement is still pending. An NTL spokesman told the Journal, "While it is true that we are in the early stages of talks with AOL about some potential joint activity, apart from an outline term sheet nothing else has been agreed at this stage." An AOL Time Warner spokesman confirmed the talks to the Journal.

NTL would gain access to AOL Time Warner's content. AOL Time Warner could gain a stake in cable networks in Europe to complement the presence America Online already has a Web access service on the continent.

NTL serves 3.2 million residential customers and businesses, and holds franchises serving 12 million cable households in the U.K. and Ireland. NTL said in March that it plans to offer additional services such as high-speed data, and will continue digital upgrades in Continental Europe.