Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, October 2nd, and I'm your host, Kim Khan. Our top story so far,

Say posta per te. Yahoo's AOL may be heading to Italy.

Reuters reports that Apollo Global's Yahoo is in advanced talks to sell the legacy media

brand to Italy's Bending Spoons for about $1.4 billion.

Source has caution no final deal has been signed yet, but talks are advanced.

Bending Spoons is known for snapping up struggling digital names and giving them new life.

The Milan-based tech firm already has more than 300 million monthly users across its apps,

and last month agreed to take video platform Vimeo Private for $1.38 billion.

For bending spoons, AOL would bring a broad user base in fresh advertising reach.

AOL has quietly seen traffic rise 20% year-over-year among younger users,

thanks to new sections like health,

fitness, true crime, and science and tech. That $1.4 billion price tag would be 0.8% of what

AOL paid to buy Time Warner in 2001. And speaking of Warner, Warner Music and Universal Music are closing

in on landmark AI deals. The Financial Times reports that the labels

could reach licensing agreements within weeks. Startups such as 11 Labs, Stability AI, Suno,

Udio, and Clay Vision have been involved in talks alongside larger players like Google and Spotify.

At the heart of the negotiations, how labels will license their songs for AI-generated tracks

and training large language models.

The labels want to get paid in the same way they do for streaming services with micropayments every time a song is used.

Among active stocks, Berkshire Hathaway is buying Occidental Petroleum's chemical business for $9.7 billion in cash.

The move adds another business outside insurance to Warren Buffett's

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