Verizon Buys AOL

Verizon Communications has just recently announced the acquisition of AOL (formerly, Control Video Corp. in 1983 when the company was founded). Verizon Communications will be purchasing AOL for $50 a share, which equates to roughly $4.4 billion dollars. During the acquisition phase, Verizon will inherit a variety of other subsidiaries of AOL, including AOL.com, TechCrunch, and The Huffington Post. AOL currently has roughly 2+ million customers who still use their dial up service. What will that mean for all those users only time will tell. With speed in which technology is currently evolving, maybe Verizon will jump start another internet technology innovation race, similar to what AOL did in the 1990’s.