The rumor turned true. AOL buys TechCrunch.
Earlier today we reported about a rumor that AOL would buy TechCrunch. A deal that they tried to close before. Now it is official. AOL has aquired TechCrunch. TechCrunch and its associated properties and conferences will join the AOL Technology Network while retaining their editorial independence.
Michael Arrington, Founder and Co-Editor of TechCrunch, said: “Tim Armstrong and his team have an exciting vision for the future of AOL as a global leader in creating and delivering world-class content to consumers, be it through original content creation, partnerships or acquisitions. I look forward to working with everyone at AOL as we build on our reputation for independent tech journalism and continue to set the agenda for insight, reviews and collaborative discussion about the future of the technology industry.”
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The details of the deal are not disclosed. You can read the official statement on TechCrunch. The guesses of how much AOL paid for TechCrunch range from $25 million to $40 million. If founder Michael Arrington will actually stay on is another open question.