It was bound to happen. Yes, at some point we all expected a media giant to buy the once powerful AOL. That media giant is Verizon Communications Inc. and they will be buying AOL for “just” $4.4 billion. As the Wall Street Journal reports, the deal is, “aimed at advancing the telecom giant’s growth ambitions in mobile video and advertising.”
The sale is an all-cash deal that values AOL at $50 a share. That is, apparently, a 23% premium when you look at the company’s “three-month volume-weighted average price.” As someone who well remembers the AOL CDs that came in the mail or sat at the checkout counter at my local record store (remember those?!?) I am a bit mixed about this. Then again, in life, change is the only constant. That is especially true in the technology sector; we will see what this deal means for all of the companies and the consumers involved.
Please be aware that when appropriate, we sometimes place affiliate links in our posts. If you make any purchases through those affiliate links, you will be supporting Gear Diary with a small percentage of your sale. As an Amazon Associate, we earn from qualifying purchases. Thank you for your support!
For more info on Reviews & Disclosure, click here.
Having a father who was heavily involved in early laser and fiber-optical research, Dan grew up surrounded by technology and gadgets. Dan’s father brought home one of the very first video games when he was young and Dan remembers seeing a “pre-release” touchtone phone. (When he asked his father what the “#” and “*” buttons were his dad said, “Some day, far in the future, we’ll have some use for them.”)
Technology seemed to be in Dan’s blood but at some point he took a different path and ended up in the clergy. His passion for technology and gadgets never left him.
Dan is married to Raina Goldberg who is also an avid user of Apple products. They live in New Jersey with their golden doodle Nava.