AOL Will Remain Independent, Not Buying Yahoo!'s Assets Says CEO
The company's chief executive, Tim Armstrong, detailed his plans for its future at the Reuters Global Media Summit Monday.
AOL Inc's chief executive Tim Armstrong reiterated the company's strategy for the future at the Reuters Global Media Summit Monday.
And, it doesn't include buying any of Yahoo!'s assets, reports Reuters. Armstrong said the company plans to remain independent and continue on its path of transitioning AOL from a dial-up internet provider into a strong media presence dependent on advertising revenue.
Armstrong took over the company in 2009 and has since acquired both the Huffington Post and TechCrunch blogs. The CEO said TechCrunch's valuation has increased since the takeover. It was valued at $30 million last year.
Earlier this month it was announced that Yahoo!, AOL and Microsoft had entered into a non-exclusive advertising partnership (in an attempt to battle against Google).