Verizon officially completes its AOL acquisition

A little over a month ago, Verizon announced it was purchasing AOL for the tune of $4.4 billion dollars. Today, that transaction is complete.

AOL was sold for the expected $50 per share, in cash. AOL CEO Tim Armstrong will continue to lead that company’s operations, while Bob Toohey, president of Verizon Digital Media Services, will now report to Armstrong.

Verizon and AOL will host a media call soon to discuss the purchase.

Developing…

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