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Tech

Verizon now officially owns AOL

By
Claire Groden
Claire Groden
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By
Claire Groden
Claire Groden
Down Arrow Button Icon
June 23, 2015, 9:36 AM ET
2012 International Consumer Electronics Show
The Verizon Communications Inc. logo is seen at the International Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Thursday, Jan. 12, 2012. Photograph by Bloomberg via Getty Images

It’s official: Verizon completed its acquisition of AOL Tuesday in a deal that raises yet-unanswered questions about the future of one of the country’s earliest Internet brands and of online media in general.

The $4.4 billion deal, which the companies announced in May, gives Verizon access to AOL’s digital ad technology as well as content brands like The Huffington Post as well as technology blogs Engadget and TechCrunch.

The merger sparked rumors about the future of the AOL-owned Huffington Post and whether the site’s founder, Arianna Huffington, had a place at Verizon. Huffington quelled the doubters last week when she signed a contract to remain president and editor-in-chief of the site for four more years. AOL CEO Tim Armstrong, also shows no signs of an exit — he will continue to run AOL from within the Verizon chain of command.

Speculation that Verizon might try to sell off the Huffington Post also appears to be unfounded for now.

Verizon and AOL are holding a conference call at 10 a.m. ET Tuesday; we’ll learn more details about both companies’ futures then.

About the Author
By Claire Groden
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