Verizon buys AOL for $4 billion

A $4.4 billion deal has been struck to sell off the AOL company to cell phone giant Verizon in a deal that may see a huge shift in the directions both companies take. USA Today reports the deal was announced by Verizon who are looking to expand their digital option to include the chance to stream greater amounts of video for customers as the text based Web options used by many in the world are increasingly being removed in favor of video based options.

Experts are divided on why Verizon has taken a gamble on the struggling Online provider of Internet access and content as the last few years have been problematic for AOL. Many insiders believed at first the deal had been designed to allow Verizon the chance to expand its range of options across The Huffington Post and other Online content options owned by AOL. However, these now look set to be sold off as Verizon looks to the advertising and video services already developed by AOL to add to their brand.

Thanks to Daniel Amen for showing me this big news. (Check him out on LinkedIn)