Verizon Inks $4.4 Billion Agreement To Buy AOL

Posted by Nate Wek, NPR on

Verizon Communications has agreed to pay $4.4 billion to buy AOL Inc.

In a press release, Verizon said the all-cash acquisition will help build its digital and video platforms.

The Wall Street Journal explains:

"Verizon has said it plans to launch a video service focused on mobile devices this summer. The company has offered few details, but last month Chief Financial Officer Fran Shammo said the service will offer a mix of paid, free and ad-supported content and won't try to replicate traditional TV.

"The service will feature shorter snippets rather than 30 or 60 minute shows. It also could include multicast programming—a sort of broadcast service that uses cellular airwaves—for delivering live content like sports and concerts, along with on-demand viewing."

"Verizon's vision is to provide customers with a premium digital experience based on a global multiscreen network platform," Lowell McAdam, Verizon chairman and CEO, said in a statement. "This acquisition supports our strategy to provide a cross-screen connection for consumers, creators and advertisers to deliver that premium customer experience."

Pending regulatory approvals, the companies said they expect to close the deal this summer.

Update at 7:58 a.m. ET. What Is AOL Today?

Many people probably still associate AOL as one of their first Internet service providers. But more than two decades later, AOL is more of a media company: It owns The Huffington Post, TechCrunch, MapQuest and Moviefone. According to the company, it is the fourth largest online property in the U.S. with 200 million monthly visitors to its sites.

subscribe to sdpb email updates food and cooking banner image learning blog link living blog link news and information blog link science and technology blog link sports blog link image

The Latest From SDPB Radio News

Alicia Olatuja

Praised by the New York Times as "a singer with strong and luscious tone and an amiably regal presence on stage...

Governor: Federal IHS Savings Could Help People In Health Care Gap

South Dakota’s governor says federal health care reform can benefit the state’s working poor. The United States...

V The Noble One And Knights Tempo

V the Noble One (Vaney Hariri) is recognized as one of the founding fathers of hip-hop - at least in the Upper...

SD Legislators Pass New Bill On Veto Day

Lawmakers in Pierre changed their own rules Monday to introduce a new bill on veto day. The final day of the session...

House Lawmakers Fail To Override Gun Bill Vetos

Two vetoes by Governor Dennis Daugaard aimed at bills that relax state gun laws… stand. The South Dakota House of...

The Dead Pigeons

The South Dakota Friends of Traditional Music welcomed The Dead Pigeons to headline the 37th annual Sioux River Folk...

Hobo Nephews of Uncle Frank

Hobo Nephews of Uncle Frank (brothers Teague and Ian Alexy) share a common love of American roots music. They've...

Tab Benoit

Tab Benoit loves Sioux Falls and JazzFest fans love him back. Benoit was tabbed to headline the opening night of...

In The Moment... Shaking Things Up With Bartenders In South Dakota

In The Moment ... March 27, 2017 Show 058 Hour 1 The 2nd Annual South Dakota State Bartending championships are...

The Latest from NPR News

What Gave Some Primates Bigger Brains? A Fruit-Filled Diet

A new study suggests that diet had a big influence in driving the evolution of brain size in primates. Monkeys who...

Raiders Set To Split For Las Vegas, Leaving Oakland ... In A Year Or Two

By overwhelming majority, NFL owners voted Monday to approve the Raiders' bid to make a new home in Sin City. But it...

D.C.'s Missing Teens: A False Number That Spurred A Real Conversation On Race

A viral image last week claimed 14 girls of color went missing in 24 hours in D.C. — though police say that's untrue....

AP Calculates North Carolina's 'Bathroom Bill' Will Cost More Than $3.7 Billion

The Associated Press tallied up business lost because of the controversial law, based on interviews and public...

Attorney General Orders Crackdown On 'Sanctuary Cities,' Threatens Holding Funds

The Justice Department's order to withhold $4.1 billion in federal grants over immigration enforcement could affect...

For Utah Newlywed, An 'Egregious' Prison Stint In Venezuela

Joshua Holt, a Mormon, was on his honeymoon in Venezuela last year when he was arrested in an anti-gang operation...