Verizon to Buy AOL for $4.4 Billion in Big Media Push

USA Today: Verizon has announced it will acquire digital conglomerate AOL for approximately $4.4 billion, a move expected to bolster the telecommunications’ giants efforts on mobile platforms and digital advertising. Verizon will pay $50 a share for AOL, which has shifted its focus in recent quarters to video advertising following a split from Time Warner five years ago. Tim Armstrong, AOL’s chairman and CEO, will stay on to run AOL after the acquisition. Verizon said the deal will shore up its wireless and over-the-top video strategies.