Verizon Wireless has this week announced that it plans to acquire AOL in a new deal that is worth $4.4 billion, with Verizon paying $50 per share for the company.
The deal is subject to approval by given regulators, but if accepted it will include the number of news sites like EnGadget, TechCrunch and The Huffington Post, along with many more.
Lowell McAdam, Verizon chairman and CEO, talked about the deal with the following statement:
“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.”
“AOL has once again become a digital trailblazer, and we are excited at the prospect of charting a new course together in the digitally connected world. At Verizon, we’ve been strategically investing in emerging technology, including Verizon Digital Media Services and OTT, that taps into the market shift to digital content and advertising. AOL’s advertising model aligns with this approach, and the advertising platform provides a key tool for us to develop future revenue streams.”
You can find out more about the deal below.
Source: PR Newswire