The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
FAIRFAX, VA — After more than three decades of screeches, static, and “You’ve Got Mail,” AOL is officially ending its dial-up internet service by the end of next month. The move closes a chapter of internet history that began in 1991, when AOL first brought millions of Americans online.
Continue reading End of an Era: AOL to Shut Down Dial-Up Internet After 34 Years
Fred Imbert | @foimbert
Telecom giant Verizon announced Tuesday it will be buying AOL for $50 per share, or about $4.4 billion. (Tweet This)
AOL’s stock was up more than 17 percent after the announcement. Verizon’s stock was down slightly.
AOL co-founder Steve Case tweeted his approval.
The transaction will be completed this summer and will take the form of a tender offer followed by a merger, after which AOL will become a wholly owned subsidiary of Verizon, the announcement 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,” said Lowell McAdam, Verizon’s chief executive.
Tim Armstrong, AOL’s chairman and CEO, will remain at his position once the deal is finalized.
“Verizon is a leader in mobile and OTT (over-the-top video) connected platforms, and the combination of Verizon and AOL creates a unique and scaled mobile and OTT media platform for creators, consumers and advertisers,” Armstrong said in the announcement.
>Ridgewood Patch and Glen Rock Patch Merge
The staff of the Ridgewood blog
Wednesday ,December 14, 2011
(Ridgewood , NJ) Last week AOL’s “hyper local” online news network Patch consolidated 4 of its New Jersey local websites. The Patch in Ridgewood has now merged with Glen Rock and the Franklin Lakes Patch has been merged with Wycoff . Sources claim it was a business decision done to better serve both readers and advertisers.
However Ad Age reports that Patch spokesperson Janine Iamunno said the decision was “editorially driven,” coming from editors who felt there was too much news overlap in the towns. Previously the Patch also reduced freelance budgets to make the sites more profitable.
AOL the parent company is under pressure from the recent merger with Huffington Post and is still struggling with how hyper local the Patch’s news coverage and and advertising should be.
