Verizon Wireless has announced that it will buy AOL in a deal which is worth about $4.4 billion, Verizon will pay $50 per share for AOL.
AOL owns a number of news sites like Engadget, TechCrunch, The Huffington Post and more and of course the deal will need to be approved by the various regulators.
Lowell McAdam, Verizon chairman and CEO, said: “Verizon’s vision is to provide customers with a premium digital experience based on a global multiscreen network platform. This acquisition supports our strategy to provide a cross-screen connection for consumers, creators and advertisers to deliver that premium customer experience.”
He added, “AOL has once again become a digital trailblazer, and we are excited at the prospect of charting a new course together in the digitally connected world. At Verizon, we’ve been strategically investing in emerging technology, including Verizon Digital Media Services and OTT, that taps into the market shift to digital content and advertising. AOL’s advertising model aligns with this approach, and the advertising platform provides a key tool for us to develop future revenue streams.”
You can find out more details about the proposed takeover of AOL by Verizon Wireless at the link below.
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