What what suspected yesterday became true today — AOL announced it’s acquiring the TechCrunch network of sites for an undisclosed sum. One of the biggest blogs on the web — and a big social media brand — TechCrunch will join AOL’s growing stable of content sites under the “MediaGlow” advertising umbrella: over 70 sites that include Engadget, TMZ, AOL News and the rapidly-expanding Patch network of sites. It goes without saying, AOL is throwing a ton of money at content.
“(AOL CEO) 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,” said Michael Arrington, TechCrunch’s founder. “I look forward to working with everyone at AOL.”
Industry analysts are guessing that the deal was worth around $25 million. Time will tell if AOL can turn this massive investment in content (Patch has been in the $50 million range over the last year) into sustainable profits.
Updated: AOL also just bought the makers of Brizzly, a cool Twitter client.
