Done Deal: AOL Acquires TechCrunch

TechCrunchLogo.jpgThe rumors have now been officially confirmed by AOL chairman and CEO Tim Armstrong: AOL is the proud new owner of TechCrunch and its network of technology-centric Web sites.

TechCrunch will become part of the AOL Technology Network, but it will retain its editorial independence, according to Armstrong’s press release. The official announcement will be made on stage at TechCrunch’s Disrupt SF conference in San Francisco.

Armstrong said in the press release:

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(TechCrunch founder Michael Arrington) and his colleagues have made the TechCrunch network a byword for breaking tech news and insight into the innovative world of startups, and their reputation for top-class journalism precisely matches AOL’s commitment to delivering the expert content critical to this audience. TechCrunch and its team will be an outstanding addition to the high-quality content on the AOL Technology Network, which is now a must-buy for advertisers seeking to associate their brands with leading technology content and its audience.

TechCrunch CEO Heather Harde said:

TechCrunch and AOL share a motivating passion for quality technology news and information, and we’re delighted about becoming part of the AOL family. This represents a compelling opportunity to extend the TechCrunch brand while complementing the great work of sites like Engadget and Switched. Our contributors and our audiences can look to the future with excitement about what we can build when we have the significant resources of AOL behind us.

Arrington added:

Tim Armstrong and his team have an exciting vision for the future of AOL as a global leader in creating and delivering world-class content to consumers, be it through original content creation, partnerships, or acquisitions. I look forward to working with everyone at AOL as we build on our reputation for independent tech journalism and continue to set the agenda for insight, reviews, and collaborative discussion about the future of the technology industry.

And AOL Media and Studios president David Eun added:

Engagement with thought leaders is as important to AOL as our engagement with our contributors, audiences, publishers, and advertisers, and TechCrunch’s conferences and Web sites will give us a promising, additional springboard to join and amplify these conversations. We’re committed to quality in everything we do at AOL, and look forward to working with Heather, Michael, and the TechCrunch team to extend the brand.

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