Verizon announced Tuesday morning that it plans to buy AOL for $4.4 billion.
Lowell McAdam, Verizon chairman and CEO, said in a
press release that the merger will help "provide a cross-screen
connection for consumers, creators and advertisers to deliver that
premium customer experience."
"AOL has once again become a digital
trailblazer, and we are excited at the prospect of charting a new
course together in the digitally connected world," McAdam stated. "At
Verizon, we've been strategically investing in emerging technology,
including Verizon Digital Media Services and OTT, that taps into the
market shift to digital content and advertising. AOL's advertising model
aligns with this approach, and the advertising platform provides a key
tool for us to develop future revenue streams."
AOL CEO Tim
Armstrong who is expected to continue to lead the company once the deal
goes through, emailed the staff with the news
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