NEW YORK (AP) — Verizon is buying AOL for about $4.4 billion, advancing the telecom’s push in both mobile and advertising fields.
AOL owns The Huffington Post, TechCrunch, Engadget, MAKERS and AOL.com.
The acquisition gives Verizon an entryway into the increasingly competitive online video space.
Verizon Communications Inc. said Tuesday that it will pay $50 per share for the company in cash, a 15 percent premium to AOL’s closing price on Monday.
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AOL is still a thing?
Who knew?
4.4 BILLION for Huffpost and that other crap? I see the phone company hasn’t gotten any smarter after being broken up and reassembling.
Who knew Carly Fiorina was running Verizon? Though, given the love hate but mostly hate relationship Verizon’s customers seem to have with it, who would admit that?
Beat me to it!!! This is straight out of the Fiorina playbook. She did work AT&T earlier in her career.
TPM Headline: Verizon Buying AOL for $4.4 Billion
Or:
Evil Telecom Giant Aims To Become Evil Media Giant Too
Great. Now my rates will go up because Verizon paid an astronomical sum for a dinosaur carcass. Thanks, idiots.