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AOL Buys Top Tech Blog TechCrunch

AOL Buys Top Tech Blog TechCrunch

AOL agreed to buy popular technology blog TechCrunch, which will join Engadget, the DownloadSquad, the unofficial Apple weblog and other blogs in AOL’s Technology Network.

Financial terms of the deal, announced and inked onstage by TechCrunch founder Michael Arrington and AOL CEO Tim Armstrong Sept. 28 at TechCrunch Disrupt in San Francisco, were not disclosed. However, reports peg the purchase price between $25 million and $40 million.

A key term of the deal is that Arrington will be able to maintain his Websites’ editorial independence without interference from AOL CEO Tim Armstrong or his executives.

TechCrunch will retain its headquarters in San Francisco as a wholly-owned unit of AOL. Arrington has agreed to stay on at TechCrunch for the next three years.

Read More/Source: eWeek

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