New York - Contrary to widespread reports that surfaced earlier this month, former AOL (NYSE: TWX) head Jonathan Miller is not trying to acquire Yahoo (NASD: YHOO) and isn't a candidate to replace departed CEO Jerry Yang, Bloomberg reported, citing people familiar with the matter.

The news service said that Miller, a founding partner in New York-based venture firm Velocity Interactive Group, simply has been "scoping out new media investments."

While declining to comment on his involvement with Yahoo, Miller told Bloomberg that he wants to invest in online video and ad firms that cater to people who watch TV and read news on the Internet.

The Wall Street Journal, however, said that it stands behind a recent article claiming that he has been attempting to raise money to buy all or part of Yahoo.

A day later, billionaire financier Carl Icahn, a major Yahoo investor, told CNBC that he would oppose such a move.

Miller served as the chairman and CEO of AOL from 2002-2006.

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