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.
Discovery Channel and Science Channel group chief Rich Ross said at Sundance over the weekend that Oscar-winning filmmakers Fisher Stevens and Ross Kauffman are behind a new documentary for the network, Taken by the Tiger, about the rapidly diminishing population of tigers in the wild.
Steve Harvey’s daytime series Steve got a second season renewal in national syndication. The series already been sold in 90 percent of the US on NBC-owned stations and station groups including Sinclair and Hearst.
Amid a landmark year for CBS Sports Digital in 2017, where the outlet’s platforms ranked second in comScore’s sports category for the fifth consecutive month in December and saw 9% year-over-year growth in 2017, the group kicked off 2018 with the announcement that it had promoted Jeff Gerttula to Executive Vice President and General Manager […]
Pringles is making its maiden voyage for the Super Bowl, announcing that the brand will launch its first-ever Super Bowl advertisement. Bill Hader will star in the 30-second spot, which will showcase ‘flavor stacking’, where consumers blend different flavors to create new ones. “The Pringles Super Bowl advertisement is an opportunity to show people a […]
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