AOL Announces New Acquisition to Boost Ad Revenue Potential
AOL has boosted their portfolio of online titles with the acquisition of technology website TechCrunch and its associated properties. The purchase, for an undisclosed fee, was announced at the TechCrunch Disrupt conference in San Francisco yesterday.
The move is aimed at improving AOL's ability to command ad revenues. Tim Armstrong, CEO of AOL, commented, "TechCrunch and its team will be an outstanding addition to the high-quality content on the AOL Technology Network, which is now a must-buy for advertisers seeking to associate their brands with leading technology content and its audience."
CEO of TechCrunch, Heather Harde, added, "This represents a compelling opportunity to extend the brand while complementing the great work of [AOL-owned] sites like Engadget and Switched."
According to both companies, TechCrunch and its associated titles that include CrunchGear, MobileCrunch, and GreenTech, will maintain their editorial independence. They were originally founded by editor Michael Arrington.