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AOL to Buy TechCrunch

AOL says it has agreed to acquire Silicon Valley tech blog TechCrunch.
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NEW YORK (TheStreet) -- AOL (AOL) says it has agreed to acquire Silicon Valley tech blog TechCrunch, though further details of the transaction wasn't provided in the press release.

AOL said it would be making the announcement at the TechCrunch Disrupt conference for web innovators in San Francisco on Tuesday.

"TechCrunch and its associated properties and conferences will join the AOL Technology Network while retaining their editorial independence, further bolstering AOL's position as one of the world's leading providers of high-quality, tech-oriented content," the company said.

TechCrunch was founded in 2005.

The Wall Street Journal

earlier noted that TechCrunch has frequently been discussed as a possible acquisition target. AOL and TechCrunch had reportedly entered acquisition talks several years ago.

The

Journal

reported that the most recent talks occur as TechCrunch's founder, blogger Michael Arrington, conveyed his frustration with blogging and last year took time away from it. Meanwhile, online publishers continue to raise questions about the ability of Web news outlets like blogs to be profitable.

Shares of AOL stock have jumped 3.3% to $24.30 in early afternoon trading.

-- Written by Andrea Tse in New York.

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