Mobile giant Verizon has announced that it will acquire the former media kingpin AOL in an all-cash deal worth $4.4 billion.
Although AOL is virtually an afterthought these days, Verizon has said that it will use the deal to help push its online video content, which it has made efforts to become a leader in.
Notably, the deal also makes Verizon the owner of The Huffington Post, Techcrunch, Engadget and others.