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Submitted URL: http://thenextweb.com/media/2015/05/12/verizon-is-buying-aol-for-4-4-billion-in-cash/
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This article was published on May 12, 2015
* Media
VERIZON IS BUYING AOL FOR $4.4 BILLION IN CASH
May 12, 2015 - 1:10 pm
Verizon has announced that it’s buying AOL for $50 per share, which adds up to a
purchase price of around $4.4 billion.
Once the deal is closed, AOL will become a wholly-owned subsidiary of Verizon.
 AOL’s CEO, Tim Armstrong, will continue to lead the company after the
acquisition.
Today’s news could have some interesting implications for tech fans as it makes
the carrier the new parent company over Engadget, TechCrunch and The Huffington
Post.
Of course, journalists at those outlets are saying it’ll be business as usual
under their new corporate overlords, but only time will tell how true that turns
out to be.
TechCrunch, which has posted AOL’s internal memo about the deal, says there’s an
all-hands meeting at 10am ET (3pm BST) so expect to hear plenty leaking out from
that.
Read next: Verizon’s deal to buy AOL will make life uncomfortable for TechCrunch
and Engadget
Image credit: Tupungato / Shutterstock.com
Â
STORY BY MIC WRIGHT
Reporter, TNW
Mic Wright is a journalist specialising in technology, music and popular
culture. He lives in Dublin. He is on Twitter at @brokenbottleboy. (show all)
Mic Wright is a journalist specialising in technology, music and popular
culture. He lives in Dublin. He is on Twitter at @brokenbottleboy.
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Published May 12, 2015 - 1:10 pm UTC
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Story by Mic Wright
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