by Christopher Freeburn | June 3, 2013 10:28 am
AOL‘s (AOL) music websites have found a new home.
The Boot, Noisecreep, ComicsAlliance and The Boombox have been acquired by Townsquare Media Group, which operates more than 240 of radio stations. Terms of the purchase were not disclosed, AllThingsD noted.
Townsquare’s Executive Vice President Bill Wilson is a formed AOL executive and was responsible for launching the websites during his tenure at the company.
AOL has been divesting itself of non-essential assets. The four websites have been virtually closed since April when AOL laid off most of their staffs. They have a combined audience of 3.5 million visitors.
By contrast, Townsquare has been expanding its Internet presence, operating almost 250 websites that attracted 52 million viewers.
Shares of AOL rose almost 1% in Monday morning trading.
Source URL: http://investorplace.com/2013/06/townsquare-media-buys-up-abandoned-aol-music-sites/
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