The next big thing in TV news acquisition software acquisition is in the hands of AOL, according to AOL’s board of directors, as the company prepares to unveil its acquisition plan for AOL’s AOL News and Apps, which will allow the company to launch new news and entertainment platforms in the next several years.
The acquisition is expected to happen in the second half of next year, AOL’s chief financial officer David Himmelstein told investors during a conference call on Thursday.
Himmellstein said AOL will spend $2 billion in the deal to buy AOL News, which is the only major news and media company that has yet to be acquired.
AOL is also planning to acquire a slew of apps, including Snapchat and Facebook.
AOL has said it will buy the AOL News subsidiary in a $6 billion deal.
The move comes as the media and tech industry struggles to catch up with the rapid rise of Facebook and Twitter, which are also dominating the online advertising space.
AOL, which has struggled to gain traction in the online market and has been struggling to attract advertisers, said it plans to buy the News and News apps in a bid to boost its reach.
AOL News is an app that allows users to search through live events and see a timeline of events, as well as to get recommendations about how to use a product.
It is a separate app that provides news and news apps for a variety of devices, including tablets, phones, televisions and PCs.
AOL’s deal with AOL News would create a massive media company with a wide variety of brands, including CNN, Time Inc., NBC Universal, ESPN and other media companies.
The company will also be able to offer advertising and content on the apps, AOL said.
AOL said that it will offer advertising on the News app and its News app will include the same kind of digital ad campaigns that Facebook and Google offer to advertisers.
AOL will sell the News apps to the News division of Yahoo, according the report.
“Yahoo will own the News brand and will have the right to run its own editorial content and news programs, including the News tab on Yahoo’s mobile website, and Yahoo will control the news and social media platforms,” AOL said in a statement.
“The deal is expected, but not finalized, to be completed in the third quarter of 2021.”
Himmelsson said the acquisition will allow AOL to expand its reach and expand its offerings to a variety more users.
“Our goal is to be a leader in the news business in the digital space, and we have a strategy to do so,” he said.
“With this acquisition, we are able to expand the scope of our content offering to more users.”
AOL CEO Tim Armstrong said in his conference call that the acquisition of AOL News will allow his company to “expand our reach to new audiences and expand the range of content.”
AOL News has been one of the biggest winners of the new wave of media acquisitions, including Disney’s purchase of The Wall Street Journal and the acquisition by Microsoft of NBCUniversal.
Armstrong said AOL News was one of AOL’s first acquisitions that was successful, adding that he had never seen anything like it.
The purchase is expected in the first half of 2021.
AOL also plans to sell the acquisition rights to its existing news apps, like News, to Yahoo, and to the acquisition fee paid to AOL for AOL News to be used by Yahoo, Himmelfstein said.