The sale of part of AOL to Google is likely to get FTC approval b...

largest Internet service provider for $1 billion was unveiled late Tues. The much ballyhooed deal implies AOL is worth $20 billion, but analysts we contacted said that’s too high. Google is paying a premium for striking a strategic relationship with the Time Warner business, they said. Google likely would seek an early termination waiver of Hart Scott Rodino antitrust rules from the FTC, said merger and antitrust specialists. “The percentage is so small, you just go down to Washington and beg” for such a waiver, said Tom Burnett, research director of Wall Street Access. “They realize you don’t control the thing at 5 percent,” said Burnett, who advises clients on mergers and acquisitions. “I'd be surprised if they didn’t ask for that,” said Womble Carlyle lawyer Michael Hazzard. “It would save a lot of time and money,” he said. Further reducing the potential for friction -- lack of concern among some Internet service providers. Officials at Google and Time Warner didn’t comment. One media activist voiced concern about the deal. “The FTC and DOJ need to investigate the interactive marketplace, especially in the light of a potential Google and AOL.com combination,” said Jeff Chester, exec. dir.-Center for Digital Democracy. “Online privacy is placed at further risk by this deal.”