AOL buys Michael Arrington’s flagship blog Techcrunch, and associated companies like Mobilecrunch, Engadget and other spin-off media brands. Michael’s apparent reasoning beside a hefty sale price was to expand the reach of his brand through AOL’s Technology Network. Although the purchase amount is unknown, it is estimated to be $40 million. Techcrunch is a leading blog turned media company on the web and breaks some of the biggest news stories across its’ media platform.
Be sure to read the official post at Techcrunch on “Why we sold to AOL and where we go from here.”