NEW YORK — A published report says AOL Inc. is considering breaking itself up and then combining its content division with Yahoo Inc.

The news agency Reuters said Monday AOL’s plans are in the exploratory stage and that the internet company has not approached Yahoo. Reuters cites unidentified people close to the plans.

Under the transaction reportedly being considered, AOL would sell its sinking dial-up business to another Internet service provider and combine its content business with Yahoo, which publishes news and a widely used network of maps.

Time Warner Inc. bought AOL, then a ubiquitous Internet service provider, in 2000 for $162 billion, only to spin it off in 2009. As of Monday, AOL’s market cap is $2.69 billion.