Verizon to Buy AOL

May 12, 2015


In a move meant to build its video--and other content--offerings, Verizon Communications announced that it will buy AOL for $4.4 billion in cash. Like many of the companies that control the channels of digital content distribution, Verizon is hoping to gain more control over its audience by becoming a content producer as well. 

Let us not forget, that AOL is the owner of sites like Huffington Post and TechCrunch--big name properties with robust audiences. Chairman and CEO of AOL, Tim Armstrong, will reportedly stay with the company. The deal, which is still subject to approval by regulators, is expected to close thsi summer.

(verizon.com, aol.com)