Verizon Communications Buying AOL for $4.4B / by Neil Savage

You've got a buyer...

RCR Wireless brings us news of Verizon purchasing former juggernaut AOL. We hear it's just to own their stable of CDs containing hundreds of hours of free internet access. From RCR:

"Verizon Communications is diving deeper into digital content with an agreement to buy AOL for $50/share, or approximately $4.4 billion. The nation’s leading wireless carrier said that AOL will boost its LTE wireless video business, its “over-the-top” video offerings and will create “a growth platform from wireless to IoT for consumers and businesses.”

While AOL is not well-known for wireless video, it has invested in a digital advertising platform. The company also owns valuable content brands, including Huffington Post, Engadget, TechCrunch and Makers.

For Verizon, this is the latest in a string of acquisitions aimed at beefing up its digital media business. Last year the carrier bought Intel Media for Internet video technology, content delivery network EdgeCast Networks, and live video encoder UpLynk.

Check out the rest of the article here."