Content fuels Verizon purchase of AOL for $4.4 billion
In a press release full of business-speak, the mobile communications giant explained that written content, video and advertising are behind the big acquisition.
Verizon announced Tuesday it is paying $4.4 billion to acquire AOL, and the biggest draw for the telecommunications firm was AOL’s content offerings.
A press release from Verizon states:
AOL is a leader in the digital content and advertising platforms space, and the combination of Verizon and AOL creates a scaled, mobile-first platform offering directly targeted at what eMarketer estimates is a nearly $600 billion global advertising industry.
Websites including The Huffington Post, TechCrunch, Engadget and AOL.com were a major selling point, as well as “over the top” video (abbreviated “OTT” in the release) and “programmatic advertising platorms.”
Verizon CEO Lowell McAdam added this jargon-filled quote to a release loaded with it:
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