Coming as a shock to pretty much no one, AOL chief exec Tim Armstrong confirmed today that the company’s local news gathering arm Patch will see heavy layoffs and some community sites closing down in the coming weeks.
Putting his money where his mouth is, AOL chief exec Tim Armstrong has brokered a deal to acquire video advertising startup Adap.TV for $405 million.
AOL revealed exactly how it would be paying back $1.1 billion to shareholders following Microsoft’s patent purchase.
Six months after reorganizing, AOL has done it again. This time, the Internet, advertising and content company will split into three parts: AOL Membership, Brand Group and the Advertising.com Group.
Update 2 p.m. Pacific: AOL stock closed up 43 percent for the day. News hit the wires this morning that AOL plans to sell 800 of its 1,100 patents to Microsoft for $1 billion in cash, money CEO Tim Armstrong says will be used to repay AOL shareholders. This one-time transaction also grants Microsoft a non-exclusive license to to the 300 remaining patents, which cover key technologies such as advertising, search, content generation/management, social networking, mapping, multimedia/streaming, and security.
AOL is planning to launch a new streaming video network branded under its Huffington Post web news site, the company announced Thursday.
Nothing to see here, just digging me own grave
One of AOL’s largest shareholders, Starboard Value LP, has warned Chief Executive Tim Armstrong that his strategy of transforming the company into a media powerhouse isn’t working.
AOL is reporting a six-percent drop in overall revenue for the third quarter of 2011 due to poor performance of its dial-up internet business, according to the company’s Q3 earnings report.
AOL CEO Tim Armstrong has been pitching top AOL shareholders on a Yahoo acquisition, telling them the combined companies could save between $1 billion and $1.5 billion.
Michael Arrington, founder of technology blog TechCrunch and known for his fiery personality and zero tolerance for corporate authority, has “decided” to move on from the San Francisco-based tech news publication.
Aol and Yahoo have had their most embarrassing moments this week under the media spotlight. So it’s only natural that the two companies are rumored to be talking about a merger.
Guest Post Aol released its earnings today a week after Time Warner, its former dot-com merger partner, announced earnings. The two businesses, once considered completely disparate and deemed one of the worst corporate mergers of all time, are now increasingly complementary as the industry shifts beyond delivery mechanism to content as the value differentiator.