iWorld

Verizon acquires AOL for $4.4 billion

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/internet-images/2015/05/12/I-world-OTT.jpg?itok=z357UfSK

MUMBAI: Taking another significant step in building digital and video platforms to drive future growth, Verizon Communications Inc. has acquired AOL Inc. for an estimated total value of approximately $4.4 billion.

AOL chairman and CEO Tim Armstrong will continue to lead AOL operations after closing.

Verizon's acquisition further drives its LTE wireless video and OTT (over-the-top video) strategy. The agreement will also support and connect to Verizon's IoT (Internet of Things) platforms, creating a growth platform from wireless to IoT for consumers and businesses.

The combination of Verizon and AOL creates a scaled, mobile-first platform offering directly targeted at what eMarketer estimates is a nearly $600 billion global advertising industry. AOL's key assets include its subscription business; its premium portfolio of global content brands, including The Huffington Post, Tech Crunch, Engadget, MAKERS and AOL.com, as well as its millennial-focused OTT, Emmy-nominated original video content; and its programmatic advertising platforms.

Verizon chairman and CEO Lowell McAdam said, “Verizon's vision is to provide customers with a premium digital experience based on a global multiscreen network platform. This acquisition supports our strategy to provide a cross-screen connection for consumers, creators and advertisers to deliver that premium customer experience.”

“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. At Verizon, we've been strategically investing in emerging technology, including Verizon Digital Media Services and OTT, that taps into the market shift to digital content and advertising. AOL's advertising model aligns with this approach, and the advertising platform provides a key tool for us to develop future revenue streams,” he added.

Armstrong said, “Verizon is a leader in mobile and OTT connected platforms, and the combination of Verizon and AOL creates a unique and scaled mobile and OTT media platform for creators, consumers and advertisers. The visions of Verizon and AOL are shared; the companies have existing successful partnerships, and we are excited to work with the team at Verizon to create the next generation of media through mobile and video.”

The transaction will take the form of a tender offer followed by a merger, with AOL becoming a wholly owned subsidiary of Verizon upon completion.

The transaction is subject to customary regulatory approvals and closing conditions and is expected to close this summer.

Verizon expects to fund the transaction from cash on hand and commercial paper. The company also continues to expect to return to pre-Vodafone transaction credit ratings in the 2018-2019 timeframe.

Transaction advisers for Verizon were Lion Tree Advisors; Guggenheim Partners; and Weil, Gotshal&Manges. AOL advisers were Allen & Company LLC and Wachtell, Lipton, Rosen & Katz.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/23/vodaone.jpg?itok=gBjeiFK4
Vodafone Idea board approves raising Rs 25K crore by rights issue

Vodafone Idea Limited has intimated the stock exchanges that its board of directors has considered and aprroved the offer and issue of fully paid-up and/or partly-paid up

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/23/Sony%20Album%20art.jpg?itok=GRa8oeE8
Amazon Prime Video launches the music album of Prime Original Series, Four More Shots Please!, with music by Mikey McCleary

Following the launch of two stand-out tracks from Prime Original Series Four More Shots Please!, Amazon Prime Video released the show’s original soundtrack album available exclusively on Prime Music.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/23/Hungama-Play.jpg?itok=1c9v8wuL
HungamaPlay announces a stellar line-up of the latest Hollywood blockbusters

Hungama Play, a premium video on demand platform owned by Hungama Digital Media, premiered a slew of the latest Hollywood blockbusters. Beginning with the latest and darkest chapter of The Conjuring Universe, The Nun was premiered on 21st January Hungama Play.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/23/Sundar_Pichai.jpg?itok=ttoHW-Bx
Google promises more transparency in online election ads

Google has vowed to take India specific initiatives aiming at transparency in political advertisements on its platform ahead of general elections in the country. The tech giant will provide details of advertisers as well as money spent on such ads.

iWorld Social Media
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/22/american.jpg?itok=CPzqruF4
Trailer launch of Prime Original series, American Gods S2

We are excited to share with you the trailer for the next season of the Prime Original series, American Gods, which will be coming back to Prime Video on March 11, 2019.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/21/tantrik.jpg?itok=_R5fwHX4
Q brings eccentricity and oddity to hoichoi with Taranath Tantrik

It’s time to relive the legend through the eyes of a cult director – Q – who is famous for his aesthetically treated content.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/21/awards.jpg?itok=aK2OEIdT
The premiere edition of the Exhibit Auto Tech Awards is finally here!

Exhibit Magazine, India’s leading supplement on technology, fashion and lifestyle announces the first-ever edition of its much awaited Exhibit Auto Tech Awards.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/21/zee5.jpg?itok=R_lJjy8_
ZEE5 announces original film veergati this repulic day

ZEE5 has been a forerunner in presenting unique content that challenges one’s beliefs and thoughts. In the past few months

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/21/yaari.jpg?itok=Ed0l3O7F
Amazon Prime Video launches a brand new song for upcoming Prime Original Series, Four More Shots Please!

Dedicated to timeless friendship, Amazon Prime Video has released the latest single from the album of Prime Original Series Four More Shots Please! Singer extraordinaire and popular heart-throb, Darshan Raval, has lent his voice to the ballad, Yaara Teri Yaari.

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories