Verizon to buy AOL for $4.4B

Posted online May 12, 2015 | 6:19 am

Telecom giant Verizon announced today it would purchase AOL for about $4.4 billion, or $50 per share.

In the transaction to close this summer, AOL will become a wholly owned subsidiary of Verizon, according to CNBC.

AOL's stock rose over 18 percent in premarket trading on the announcement, while Verizon's ticked down 1 percent.

Read more from CNBC.

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