Editor in Chief
- Dec 30, 2010
- Reaction score
- Austin, TX
There's a minor new shakeup in the internet tech world. It was just announced early this morning that Verizon will be purchasing AOL. The reasons for this acquisition include the following: Verizon believes a tie-in between the two businesses will improve their online video and content strategy. Additionally, AOL also is a player in the online ad business. Verizon wants to tap into that. The following quote is the press release from AOL, but we also included Verizon's full presser in the thread below.
Today is a very proud day for all of us here at AOL - as you may have read in the press, we announced this morning that Verizon is acquiring AOL.
Over the last 5 years, we have returned AOL to growth and outperformed the market (+150% since spin) by investing in the future of content, video and programmatic platforms. We now have the opportunity to turn our efforts and assets to a broader market with an exponentially larger opportunity through the combination of Verizon and AOL, which will create the company best positioned for the next generation of mobile and video. The new entity will combine world-class media and world-class technology across every device.
We believe this move will game change our ability to out-perform against your expectations as consumers continue to disrupt legacy consumption and viewership habits. Right out of the gate, here’s what we will soon be able to bring to you:
It is an exciting continuation of our Culture and Code journey – now with greater scale, more resources and assets. On behalf of everyone at AOL and Verizon, we are thrilled to partner with you every step of the way.
- Massive global scale in addressable cross-screen audience (over 1.5B PCs, TVs and mobile devices touching 70% of U.S. Internet traffic)
- Access to a larger premium, mobile and video-led content library
- Deeper content marketing solutions
- Accelerated investment in programmatic products and features
- Increased monetization opportunities
Thanks as always for your continued partnership and support.
*Update: There's an interesting sidenote to this story. AOL happens to own several other media properties and Verizon will now own them in this deal. They include: The Huffington Post, TechCrunch, Engadget, & MAKERS.
What do you think of Big Red's latest move?