For $4.4 billion and at $50 a share, Verizon announced plans to acquire AOL. Under the deal, Verizon will own Adap.tv, Convertro, Moviefone, and entities such as Huffington Post and TechCrunch, among other assets. The combination of the networks will amass to the scale of Facebook and Google, according to a statement from AOL, with Verizon currently reaching 70 percent of web traffic across 1.5 billion desktops, TVs and mobile devices. Oded Napchi, Vice President of Product at online video content SPP Hiro Media, told Cynopsis he’s not surprised by the acquisition. “Traditional media is [now] invested in a new media shopping spree. Just think of Comcast buying FreeWheel, or RTL grabbing SpotXchange. Verizon wants AOL to be its significant foothold in the online video sphere. Their competitors should do the same – Time Warner would look great on Google’s arm at the next industry party, don’t you think?” Simulmedia CEO Dave Morgan also called the transaction a smart move. “The future of TV is more and more about on-demand, streaming and addressable ads across TV, tablets, PC and mobile devices,” he told Cynopsis. “AOL’s ad tech will immediately give Verizon a significant advantage in monetizing audiences both for their own inventory and for their programming partners.” The purchase is expected to close this summer.
Jeff Zucker, CNN Worldwide’s president, is taking a six-week leave from the company to deal with heart surgery. A CNN spokeswoman confirmed the information tweeted on Thursday morning by the net’s media correspondent Brian Stelter. “He assured everyone he is going to be just fine,” posted Stelter, reporting Zucker’s comments from a news meeting.
Comedy Central is getting more animated, adding King of the Hill and The Cleveland Show to its lineup. The network has acquired all 13 seasons of King of the Hill, set to bow on Monday, July 23, as well as all four seasons of ensemble comedy The Cleveland Show, launching this fall.
Lots of news out of Bristol yesterday, including ESPN locking in Hall of Fame sportscaster Linda Cohn, the longest-tenured anchor for the SportsCenter, has signed a new deal to remain with the company in a multi-year agreement. Cohn originally joined ESPN in 1992 and anchored her first SportsCenter on July 11, 1992. Deal points will […]
ELEAGUE and the US Air Force inked an expanded multi-tournament marketing partnership ahead of the ELEAGUE CS:GO Premier 2018 in a deal that will see Air Force serve as ELEAGUE’s first-ever official armed forces partner across all platforms. The deal will see Air Force activate across a number of branded integrations and placements, highlighting the […]
Sold-out Springsteen on Broadway will launch globally on Netflix December 15, the day the one-man show ends its Broadway run. “The purpose of the film is to bring this incredibly intimate show to Bruce’s entire audience intact and complete,” said Bruce Springsteen manager Jon Landau. “In addition to its many other virtues, Netflix has provided […]