Verizon To Buy AOL For $4.4 Billion

04:13

May 12, 2015

AOL CEO Tim Armstrong will remain at Verizon after the two companies merge. (Andrew Toth/Getty Images)

Verizon announced today that it will purchase AOL for $4.4 billion. AOL CEO Tim Armstrong told The Wall Street Journal that the deal will "create what I think is the largest mobile and video business in the United States."

AOL, which also owns Huffington Post and Engadget, has in recent years developed advanced technology for selling ads and delivering video online.

Verizon is the largest mobile phone operator in the company, offers high-speed Internet and has plans to launch a video service for mobile devices this summer. Here & Now's
Meghna Chakrabarti speaks with Jason Bellini about the merger.

Guest

Jason Bellini, senior producer at The Wall Street Journal. He tweets @jasonbellini.

This segment aired on May 12, 2015.