Click to Skip Ad
Closing in...
  1. Disney Plus Free
    14:51 Deals

    Hidden Amazon deal gets you 6 months of Disney+ for free

  2. 4K Camera Drone Amazon
    13:37 Deals

    This pro-grade 4K camera drone is $430 at Amazon, and it beats $800+ rivals

  3. Amazon Deals
    09:51 Deals

    Today’s best deals: Alexa in your car for $19.99, surprise Fire TV Stick 4K sale, $6…

  4. Smart Lock Amazon
    10:32 Deals

    eufy’s Smart Lock Touch is stunning, and it has one feature you can’t get with…

  5. Amazon Deals
    07:56 Deals

    10 deals you don’t want to miss on Sunday: $30 off Amazon Echo Buds, $230 convertibl…




Verizon moves to corner the coveted dial-up market, will buy AOL for $4.4 billion

May 12th, 2015 at 7:33 AM
Verizon Buying AOL $4.4 Billion

“BZZZT… EEE-YOO, EEE-YOO! YOU’VE GOT MAIL!” Those are the sounds that many Internet early adopters haven’t had to listen to for well over a decade now. However, there are still 2.1 million lost souls trapped in AOL dial-up hell and they’re about to become Verizon subscribers. Verizon on Tuesday announced that it plans to buy AOL for $4.4 billion at $50 per share, which represents a 17% premium over its stock price at the close of Monday’s trading.

FROM EARLIER: Shady new app makes rooting your Android phone easier than ever before

What is Verizon thinking here? Verizon CEO Lowell McAdam said in a statement that “AOL has once again become a digital trailblazer, and we are excited at the prospect of charting a new course together in the digitally connected world.”

It’s true AOL does own The Huffington Post, TechCrunch and other popular websites but its old-timey dial-up business is still the most profitable operation that it runs. Why Verizon thinks this has the potential for massive future growth at this point in time is anyone’s guess.

AOL CEO Tim Armstrong will remain with AOL and will continue to run its operations once the deal is complete.

15 years ago, Time Warner paid a whopping $180 billion to buy AOL, a deal that is widely viewed as one of the most disastrous mergers in modern business history. At least if Verizon is making the same mistake Time Warner did, it won’t cost the company nearly as much.




Popular News