Startup That Revolutionized The Internet To Be Acquired By Phone Company

This wasn't how it was supposed to end.
Author:
Publish date:
Updated on

When America Online started bringing this new thing called "The Internet" into people's homes, it changed the way everyone communicated and behaved, rendering our old ways of connecting - like the phone - antiquated and endangered.

Today, this is what's up with AOL.

Verizon Communications Inc. agreed to buy AOL Inc. in a deal valued at $4.4 billion, getting access to advertising technology that will help it make more money from mobile video.
Verizon, the largest U.S. wireless provider, is buying AOL just as it prepares to start a mobile video streaming service featuring live TV, original shows and pay-per-view. The carrier will pay $50 a share, a 17 percent premium over AOL’s stock price on Monday, and AOL Chief Executive Officer Tim Armstrong will continue to lead AOL’s operations after the deal is completed, the companies said Tuesday in a statement.

So AOL will become a division of the phone company. Welcome to the future.

Verizon Communications to Buy AOL for $4.4 Billion [Bloomberg]

Related