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AOL to Remain 'a Standalone Company': CEO Armstrong

AOL won't be going down the merger road again anytime soon, Chief Executive Tim Armstrong told CNBC Monday.

Dismissing talk of a deal with Yahoo!, Armstrong said, "We’ve been very clear about our execution and about our strategy...Our number one goal is to get through the end of this year and get into 2012, and continue to move our strategy forward as a standalone company."

"We're not paying alot of attention to the competition," Armstrong told CNBC.

AOL , once famously married to Time Warner before a very public divorce, is continuing down the "premium content path" by expanding The Huffington Post with several new video properties, including "CliffNotes Films," "Heidi Klum on AOLm" and a program from Jennifer Lopez's production company, "Lost in Translation," Armstrong said.

AOL bought Huffington Post for $313 million in February.

"What you've seen from us in the acquisition of Huffington Post is really an incredible brand with incredible growth prospects," he said. "You have to say we're in the pole position to the the largest single content company in the digital space. So it was a great value for us, a great value for our investors."

The Internet company is also expanding its Project Devil interactive ad format—it encourages users to interact with the advertising—into video. Armstrong said video traffic is up 86 percent year-over-year, and global advertising was up for the first time in two years.