Verizon closes deal with AOL, eyes mobile video technology
Verizon now has mail from the king of the vintage dial-up Internet service. In a $4.4 billion deal first announced in May, Verizon Communications Inc., a modern-day tech giant, has completed the acquisition of AOL, a tech giant of the 1990s with the famous “You’ve Got Mail” slogan. AOL’s wall street presence goes away in a puff of smoke and they are now a wholly owned subsidiary of Verizon. AOL’s Chief Executive Officer Tim Armstrong will continue to steer the company in the right direction, with help from Bob Toohey, president of Verizon’s Digital Media Services, and Marni Walden, Verizon executive vice president and president of Product Innovation and New Business. Although some might consider AOL something of a “has-been” from the dot-com era, Verizon is getting quite a few goodies, such as AOL’s websites, which includes the Huffington Post, a news content provider, and popular gadget sites TechCrunch and Engadget. This deal looks better once you throw in the numbers for AOL...