Verizon Nets Digital Boost In $4.4bn AOL Deal

12 May 2015 at 8:00 am

The US telecoms firm Verizon (NYSE: VZ - news) is to pay $4.4bn (£2.8bn) for AOL (Xetra: 6OL.DE - news) in a deal that will see it enter the competitive online video space.

Verizon Communications (Xetra: 868402 - news) said it was to pay $50 per AOL share - a 15% premium to AOL's closing price on Monday.

The purchase of AOL, which has The Huffington Post, TechCrunch and Engadget in its stable, allows Verizon to not only enter the mobile video space but also grow its advertising platforms.

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