The deal has been under heavy scrutiny for some time now. The merger will be allowed, but certain conditions must be met. ?You can read the conditions here. ?The merger will allow Timer Warner to have a better online presence for its media content, and AOL will have access to the Cable modem services of Time Warner, as well as more content for its service.

The $111 billion purchase of Time Warner by AOL will create AOL Time Warner, which will have an extensive list of assets including the nation's top Internet service company, the No. 2 cable TV outfit, and a wide range of media properties ranging from the WB, CNN and HBO TV networks to a music label and film studio.