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Verizon media chief Tim Armstrong is leaving the company
Verizon (Engadget's parent company) folded AOL and Yahoo into the Oath brand as part of its plans to become a media powerhouse, but that's not quite how it panned out -- and it's leading to some changes in leadership. Oath chief Tim Armstrong is leaving the company by the end of 2018, with COO and President K. Guru Gowrappan effectively taking the reins on October 1st.
Verizon reportedly looking for a $1 billion discount on Yahoo
Back in July, Verizon (the parent company of Engadget) agreed to acquire (most of) Yahoo for $4.83 billion, and normally, that would be the end of things. However, since then, Yahoo confirmed it suffered a massive security breach in 2014, and reports claim that its security chief quit last year after discovering its participation in bulk US government surveillance of incoming emails. Now, the New York Post cites multiple sources claiming that executive Tim Armstrong is upset about the lack of disclosure and seeking to get out of the deal or cut the price.
AOL chief wants to turn the company into an ad empire
Verizon bought Engadget's parent company AOL for its ad tech, that much we knew. And the man behind that deal was none other than AOL Chief Executive Tim Armstrong, who The Wall Street Journal reports has an eye on building the company into a massive mobile ad empire. By 2020 Armstrong aims for AOL to jump from its current 700 million users to two billion, and generate between $10 billion and $20 billion in revenue. With that, Armstrong says AOL will be the top global media company.
AOL strikes deal with YouTube to start streaming content from various brands
AOL's continuing push to boost its video presence on as many internet places as possible has just secured many of the company's brands a spotlight inside one of the world's biggest sites. According to AllThingsD, AOL and YouTube have inked a deal that will bring "branded channels" with content from sites such as Huffington Post, TechCrunch, Moviefone and even clips from the recently launched HuffPost Live over to the video streaming platform. And while AOL did previously offer some tidbits on YouTube, this move is expected to better solidify and highlight the vid work from properties like the ones mentioned above -- which, of course, could only be accomplished by reaching a new "everyone wins" type of revenue sharing agreement. [Disclosure: Engadget is part of the AOL family]
