Verizon to Retain Online Content Business of AOL [telecom]

Recently, at a Wall Street Journal conference, Verizon Communications Inc.'s Chief Financial Officer Mr. Fran Shammo confirmed that the company will retain all online content businesses of AOL Inc.. Last month, Verizon had decided to acquire AOL for a consideration of $4.4 billion. The deal is expected to be sealed this summer.

However, since the announcement of the deal, rumors have been making the round that Verizon is mainly interested in the lucrative online advertisement business of AOL and will divest the company's content division. The most popular website of AOL is the Huffington Post with around 200 million audiences. Other websites include Tech Crunch, Engadget, Moviefone and MapQuest.

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Bill Horne
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