A newspaper report says AOL has hired financial advisers to look into strategic options that could include a combination with Yahoo.
The Wall Street Journal reported Monday that AOL's advisers have been presenting various scenarios to the company about possible ways the two could combine operations. It cited unidentified people familiar with the matter.
The report says AOL has not reached out to Yahoo Inc. with a formal proposal and the two are not in formal discussions.
Representatives for AOL Inc. and Yahoo did not immediately return messages for comment.
AOL shares rose 36 cents to $25.28 in morning trading Monday while Yahoo shares added 19 cents to $16.46.