AOL acquired “5min Media,” web video syndication platform. The acquisition allows AOL to significantly expand its consumer offering of contextually relevant, high-quality video across its sites, increasing the AOL Network’s appeal to advertisers and is expected to further enhance the distribution and monetization of AOL-produced original video content throughout the Web.
AOL has already begun to integrate 5min Media’s video content on its sites through a commercial agreement executed prior to the acquisition.
In a similiar note, AOL CEO Tim Armstrong at TechCrunch’s annual Disrupt conference, announced that AOL would be purchasing the news outlet for an undisclosed price. While at least one source claims that the price was $25 million, rumor has it that it could be much more. In a post on TechCrunch, Armstrong voiced his obvious pride and excitement in owning TechCrunch.
Arrington expressed similar excitement to be working alongside other great AOL-owned sites.