Time Warner Inc's (TWX.N: Quote, Profile, Research) AOL is "very unlikely" to buy social media software maker KickApps, a source familiar with AOL's plans said on Friday, quashing speculation of its interest.

The source denied an earlier report on the All Things Digital blog on Friday morning that AOL was "seriously mulling" a purchase of the New York-based company for an estimated $90 million.

AOL said on Thursday it planned to buy social network Bebo for $850 million in cash, jumping into the hot Internet category dominated by News Corp's (NWSa.N: Quote, Profile, Research) MySpace and privately held Facebook.

-Reuters

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