It didn't take long for Carl Icahn to rattle Time Warner's cage over its planned partnership with Google.

Icahn, the billionaire financier who is waging a proxy fight at Time Warner, sent an open letter to the media giant's board yesterday, warning that he will hold directors responsible if they enter a deal with Google that would hinder a larger deal between America Online and one of the Internet giant's rivals.

"I am deeply concerned that the Time Warner board may be on the verge of making a disastrous decision concerning an agreement with Google if this agreement would make it more difficult to in any way or effectively preclude a merger or other type of transaction with companies such as IAC/InterActive, eBay, Yahoo!, or Microsoft".

Will Dick bow down to Icahn's demands??