Verizon Says It Will Buy AOL For $4.4B

WESTCHESTER COUNTY, N.Y. -- Verizon Communications announced the purchase of AOL Inc. for approximately $4.4 billion, according to The Wall Street Journal.

Verizon Communications will purchase AOL for $4.4 billion.
Photo Credit: *Wikimedia Commons*

Joe Jenkins

05/12/2015 9:30 a.m.

Verizon will pay cash for AOL, at $50 a share. The purchase was made in an effort to help Verizon better entrench themselves in the online video marketplace, The Wall Street Journal said.

The communications giant generated $12 billion in profit last year and is planning on launching a mobile video platform this summer, The Wall Street Journal said.

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