Verizon to Buy AOL for $4.4bn

US telecoms giant Verizon has signed an agreement to acquire digital content and ad platform AOL for approximately $4.4 billion, or $50 per share. The veteran Internet company is increasingly focused on the production of content, and its targeted delivery to consumers across multiple screens.

AOL's assets include its subscription business; its portfolio of global content brands, including The Huffington Post, TechCrunch, Engadget, MAKERS and AOL.com; original video content; and programmatic advertising platforms.

A year ago, AOL bought TV audience targeting provider PrecisionDemand, via its Adap.tv division, and in September it launched a targeting and analytics platform for TV ads, integrated with its broad-ranging data management platform ONE. More recently, it expanded its relationship with TV data collection and analytics specialist Fourthwall Media to cover viewer information from around two million US households and 90 designated market areas.

According to Verizon, buying AOL will further drive its own video strategy, and support and connect to its Internet of Things (IoT) platforms for consumers and businesses. AOL Chairman & CEO Tim Armstrong will continue to lead AOL operations.

Lowell McAdam, Verizon Chairman and CEO, explains: 'Verizon's vision is to provide customers with a premium digital experience based on a global multiscreen network platform. This acquisition supports our strategy to provide a cross-screen connection for consumers, creators and advertisers to deliver that premium customer experience.'

Web sites: www.verizon.com and www.aol.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.