That's how the New York Times characterized the outcome of deal talks between Microsoft and the forlorn Time Warner Internet property.

The companies reportedly met in Seattle yesterday. I supposed we could have generated Techmeme fodder by scouring local hotels and restaurants looking for East Coast business development types in dark suits, but it's hard to get worked up about a deal that may happen eventually but doesn't seem earth shattering.

I wonder if the AOL team really just wanted an excuse to be in Seattle for this weekend's blockbuster event lineup, including the Bruce Lee memorial and the Bite of Seattle.

It was probably their last chance to visit this month, before the hotels fill up around Seafair. Microsoft's people won't want to leave Seattle (or the San Juans ...) for New York City in August, so my guess is that an AOL deal, if there is one, won't happen until the third quarter.