Verizon will buy AOL for $4.4 billion, fueling Verizon’s growth in mobile video and advertising

You might have heard: Verizon approached AOL about a possible acquisition, which would be a bet on the dominance of mobile video

But did you know: To advance Verizon’s growth in mobile video and advertising, Verizon will buy AOL for $4.4 billion. The acquisition gives Verizon access to the technology AOL has developed for selling advertisements and delivering high-quality video. Verizon has said it has plans to launch a mobile video service later this summer, which will offer a mix of paid, free and ad-supported content.

+ AOL-owned TechCrunch shares internal memo from CEO Tim Armstrong on the deal: “The largest and most innovative wireless and cable company – and the one investing the most in high quality mobile content – is acquiring AOL with the strategy of building the biggest media platform in the world” (TechCrunch)

+ “AOL CEO on content: ‘One of the biggest winners out of this deal is going to be the Huffington Post…’, it will end up on more platforms” (@CNBCNow, Twitter)

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