Verizon announced today that it has signed an agreement to purchase AOL at $50 per share. AOL has a very rich portfolio such as The Huffington Post, TechCrunch, Engadget, MAKERS and AOL.com.This contract allows Verizon to acquire AOL at a valuation of 4.4 billion dollars. However Tim Armstrong, CEO and AOL-chairman, will continue to work in his positions after the acquisition. This seems to be a great move for Verizon as it expands its grasp on the digital media industry. As mobile web continues to become the go-to option for news, Verizon will be large player in this arena.
See original announcement here: link
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