Verizon Buys AOL for $4.4 Billion
With advertisers' dollars in mind, Verizon Communications plans to swallow up AOL and its digital content.
Verizon announced Tuesday that it has signed a deal to acquire AOL for $50 per share, for a total value of $4.4 billion. A powerhouse during the dot-com boom more than a decade ago, AOL has become something of an afterthought amid today's online trendsetters, but it does have a stable of Web publications and packs some video savvy as well.
The takeover reflects Verizon's growing video ambitions and its desire to marry that with its own mobile prowess.
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