Verizon's Buyout of AOL for $4.4 Billion is Complete

[dgstorm]

Back in May we shared that Verizon was planning to acquire AOL for a whopping $4.4 Billion USD deal. That buyout is now complete. Big Red announced this morning that the process for the buyout has finalized, and AOL is now a wholly owned subsidiary.

The primary reason AOL was purchased by Verizon was to act as a massive ad network for the company. Here's a quote with a few of the details,

In an expanded role, AOL CEO Tim Armstrong continues to lead AOL operations after the closing, and Bob Toohey, president of Verizon Digital Media Services, will report to Armstrong. Verizon Digital Media Services uses world-class technology to help companies prepare, deliver and display digital media content including video, web pages, applications, mobile ads and live events on any screen. Armstrong will report to Marni Walden, Verizon executive vice president and president of Product Innovation and New Businesses.

Was this a wise move by Verizon, or was it too much money for junk that won't do much for them? Share your thoughts.

Source: Verizon

 

[leeshor]

Someone, somewhere, somehow, thought spending that much for AOL was a good move. Question is, will he still be working for Verizon this time next year?

 

[UltraDroid]

You got that right Lee.

Sent from my One+One, using Magic and version 2.4.15 TapaTalk

 

[kinfolk248]

Boy Im glad that's complete, I was starting to get worried. But now I can stop stressing that they are whole, good for them...

 

[EyeOWA]

Eee hochh eee hochh brahhhhhh wee ooo wee ooo schhhhhhhhhhhhhhhhh.
You've got screwed!
In the latest news, T-Mobiles buyout of Tomagchi is complete.

 

[Jonny Kansas]

I still think it's funny that people don't really just exactly what AOL does/owns these days. Didn't some of us post links explaining more in-depth why Big Red might find value in AOL when this news first broke? I think I had a good article at the time that opened my eyes. Of course, I can't find it now.

I don't think anyone will lose their job over this or regret it. Just because dial-up is (effectively) dead, doesn't mean that was AOL's only game folks.

 

[Miller6386]

I still think it's funny that people don't really just exactly what AOL does/owns these days. Didn't some of us post links explaining more in-depth why Big Red might find value in AOL when this news first broke? I think I had a good article at the time that opened my eyes. Of course, I can't find it now.

I don't think anyone will lose their job over this or regret it. Just because dial-up is (effectively) dead, doesn't mean that was AOL's only game folks.

Yeah there was a post about how many people still use the AOL dial up service. It was an amazing number and amount of income every year.

Not to mention the 2 other large companies AOL owned. 1 I believe was related to tech news and the other a music streaming service or something

Note 4Tified

 

[Jonny Kansas]

They own(ed) Engadget I believe, and also Tech Crunch, to name a couple. Plus advertising.

 

[dezymond]

Only thing I see coming from this buyout is more bloatware on Verizon devices!

But really I had no idea this was going on.

 

[Miller6386]

I could actually see good potential in the Instant Messenger service being brought back. It's a great way to get text and IM across multiple devices very easily.

Note 4Tified

 

[Jonny Kansas]

I could actually see good potential in the Instant Messenger service being brought back. It's a great way to get text and IM across multiple devices very easily.

Note 4Tified

I have to disagree with that one. Hangouts does the trick for me. Not that I didn't have my AIM days, but there are already so many established services that accomplish the same thing. Bringing something like that back for nostalgia's sake doesn't appeal to me.

Kinda like the whole Blackberry Messenger coming to android thing. You heard all sorts of hubbub about that when it was first happening. Now, I'm sure it still exists, but it hasn't become a part of my life/routine by any means.

 

[dezymond]

I'm in the same camp as @Jonny Kansas about a potential text/IM app coming from Verizon now. There are just so many options now that I personally don't know anyone that uses AIM anymore. Those I know that used to be on AIM have now moved on to Google Hangouts

 

[kinfolk248]

I'm in the same camp as @Jonny Kansas about a potential text/IM app coming from Verizon now. There are just so many options now that I personally don't know anyone that uses AIM anymore. Those I know that used to be on AIM have now moved on to Google Hangouts

True, BUTTTTTTT we're talking about Vzw here lol. I mean VZ navigator, VZW messaging, and whatever other bloatcrap they put on IDK I trash it and get rid of it asap lol. But you get my point, they have their fair share of pointless bloat lol