Verizon to Buy AOL for $4.4 billion
Verizon Communications today revealed plans to buy AOL for $4.4 billion. In a memo to employees, AOL CEO Tim Armstrong said the deal will strengthen both companies' push into mobile and video content. "The future in front of AOL and the industry requires scale, mobile, and video – and partnerships. In our lifetime, we will see the connection of the world on very large and very fast networks – and to play in that world with our strategy requires us to take the natural steps to secure our ability to shoot for the stars. This deal is aimed at the stars and we are going to pursue the joint vision of building the most significant media platform in the world." Verizon said the acquisition will drive its goal of delivering more video content over LTE. Verizon Communications is the parent company of Verizon Wireless. In addition to running its dial-up internet business, AOL also owns a number of media outlets, including HuffingtonPost, Engadget, and TechCrunch.
Verizon Closes Acquisition of AOL
Verizon Communications today finalized its acquisition of AOL. AOL now exists as a wholly owned subsidiary of Verizon.
Verizon Closes Yahoo Acquisition, Launches Oath
Verizon Communications today said it has finalized its purchase of Yahoo. Now that the deal is complete, Verizon is merging its Yahoo and AOL assets into a new media company called Oath.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
Verizon and Hearst to Acquire Complex for Mobile Content
Verizon Communications and Hearst have agreed to acquire Complex, a media organization founded by Mark Ecko that creates content for young adult audiences. Under the terms of the agreement, Verizon and Hearst will each own 50% of Complex through a joint venture.
Is this what happens when a corporation has too much money?
I agree with you, however. There is such a thing as too big.