Posted 05/12/2015 at 9:02 AM
Posted 2 years ago
Verizon will acquire AOL in deal valued at $4.4 billion.
Lowell C. McAdam, Verizon’s chief executive, said in a 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.”
Tim Armstrong, AOL’s chairman and chief executive said “The visions of Verizon and AOL are shared…The companies have existing successful partnerships, and we are excited to work with the team at Verizon to create the next generation of media through mobile and video.”
The deal is expected to close in the summer.