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AOL, Ameritrade sign pact
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July 22, 1998: 10:28 a.m. ET
Online brokerage to pay $25 million for spot on personal finance channel
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NEW YORK (CNNfn) - America Online Inc. and Ameritrade Inc. said Wednesday they have signed a two-year pact under which AOL will feature Ameritrade's securities services on its Personal Finance channel.
In June, AOL (AOL) reached agreements with three online brokerages -- DLJdirect Inc., E-Trade Securities Inc. and Waterhouse Securities Inc. -- to feature their services Those deals were valued at a total of $75 million.
Ameritrade will join those brokerages on AOL's brokerage and mutual fund centers, which are due to launch in October.
As with the other three online brokerages, Ameritrade will pay AOL $12.5 million a year for two years.
AOL (AOL) shares climbed 1-7/16 to 131 in early trading. Shares of Ameritrade Holding Corp. (AMTD), parent company of Ameritrade Inc., gained 2 to 39. 
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