Verizon announced this morning that it is acquiring dial-up internet king, AOL, for $4.4 billion. Of course, that “dial-up king” comment is tongue-in-cheek, as the company is now known for their digital content and advertising platforms. Verizon hopes to take all of that digital expertise and drive their LTE wireless video and OTT (over-the-top video) strategy.
In case you were wondering, Verizon now owns the Huffington Post, TechCrunch, Engadget, MAKERS, and AOl.com.
AOL CEO Tim Armstrong will stay on after the deal closes to lead AOL operations. Verizon, well, they will still be Verizon.
Via: Verizon