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TechCrunch bought by AOL

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A technology news Web site that often chases rumors had its own story brought down by rumors.

Rumors had started to leak that AOL was moving to purchase TechCrunch and its affiliated blogs, so the two companies' CEOs signed acquisition papers today, in front of a live audience.

At TechCrunch's Disrupt conference, TechCrunch founder Michael Arrington said, "This wasn't supposed to happen today -- this was supposed to happen later," CNNMoney reports.

He then polled the audience, which voted that he not sign the papers. Arrington signed anyway.

On the TechCrunch site, AOL CEO Tim Armstrong wrote a blog post titled "We got TechCrunch!" "This is a great complement to our continued investment in world class content."

This move further reiterates AOL's strategy to amp up its original news content.

By Melissa Bell  | September 28, 2010; 2:13 PM ET
Categories:  The Daily Catch  
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Comments

I think AOL's evolving in to something new. I like that. I knew they could still innovate.

Posted by: Nymous | September 28, 2010 4:17 PM | Report abuse

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