AOL CEO Tim Armstrong and Time Inc. CEO Ann Moore met recently.

Now that in itself is no big deal—a source says they meet frequently. We also don't know where Tim and Ann met and what they talked about.

A reader of ours, however, claims to know.

This reader says the pair met to discuss a possible joint spinoff from Time Warner.

Time Inc CEO Ann Moore and Tim met last week with some of their confidants to talk about a potential "co spin-off" of the Time Inc and AOL. While synergies have been talked about in the past, turns out TW thinks that their could be serious benefit from this (you know what they are) merger and spin-off.

They are being told to look at the overlap/ benefit from a content deal with Time, Inc. Meeting lasted for 3+ hours. While it makes sense, I personally give it a low chance for success. Too much ego and vested interested on both side.

Our first reaction to this gossip was, yes, it makes sense for Time Inc and AOL to get together, especially if AOL's goal is to become "A Time Inc. for the 21st century."

So, Tim and Ann would be nuts not to consider the idea.

But we agree that there's a very low chance of this deal being successful given the cultural difference between the companies. It would just be a mini-AOL-Time Warner all over again. Also, it seems a bit late in AOL's spin-off process for this kind of talk to start now.