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Why AOL is Buying TechCrunch

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CNBC.com
AOL

AOL is buying TechCrunch.com, part of CEO Tim Armstrong's plan to do what he calls "doubling down" on content.

AOL already owns Engadget, so this makes AOL a real player in the tech news space.

Armstrong told me right after the deal closed that he believes "brands will be the future of the internet."

With so much content on so many devices, he expects consumers to increasingly look to the web to help navigate. Another asset, TechCrunch also aggregates a huge amount of data on private companies.

How much did AOL spend? I've heard estimates ranging from thirty to fifty million dollars, but sources tell me it's in the ballpark of $40 million.

Questions? Comments? MediaMoney@cnbc.com
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  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.