Tuesday, May 12, 2015

Verizon to buy AOL in $4.4 billion mobile video push

Reuters reports that Verizon Communications Inc said on Tuesday it will buy AOL Inc  for $4.4 billion, turning the biggest U.S. wireless carrier into a leading provider of content and video for the web and mobile phones.     
The $50-per-share offer represents a premium of 17.4 percent to AOL's Monday close. AOL and its properties, including the Huffington Post, TechCrunch and Engadget websites, would become a Verizon subsidiary, with AOL Chief Executive Officer Tim Armstrong staying in his role. Armstrong, who has been trying to build up AOL's expertise in mobile advertising technology, sees mobile representing 80 percent of media consumption in coming years. 

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