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Six years after spinning off from Time Warner, an independent and resurgent AOL announced today it will be acquired by Verizon for $4.4 billion.
The acquisition is a huge content and advertising coup for Verizon, which will retain AOL's structure and leadership, including CEO Tim Armstrong.
"The deal means we will be a division of Verizon and we will oversee AOL's current assets plus additional assets from Verizon that are targeted at the mobile and video media space," Armstrong wrote in a memo sent to AOL staffers this morning. "The