AOL Looking to Sell Tech Websites?

Engaget and TechCrunch sale under consideration for months

America Online (NYSE:AOL) may sell two of its technology news websites.

Two unnamed “independent sources” have told PandoDaily that the former Internet giant wants to sell TechCrunch and Engaget, along with a few smaller sites, for between $70 million and $100 million.

AOL Nabs $1.1 Billion for Its Patents
AOL Nabs $1.1 Billion for Its Patents

At that price, AOL would pocket roughly $10 million over what it originally paid for the websites.

The company has been looking at a potential sale since the beginning of 2012 and expects to take as long as a year to locate a buyer, PandoDaily said.

A sale might be difficult at the price AOL is reportedly contemplating. TechCrunch has recently lost some of its key executives.

Revenue continues to flow to the tech sites, however. TechCrunch has recently retained new writers in an effort to maintain website traffic.

TechCrunch founder Michael Arrington failed to reacquire the site from AOL last year, but told PandoDaily that he had no interest in buying TechCrunch now.

Last week, Arianna Huffington shot down rumors that she had approached AOL with an offer to buy back the Huffington Post.

AOL shares rose Wednesday morning after the company posted first-quarter earnings that beat Wall Street forecasts.


Article printed from InvestorPlace Media, https://investorplace.com/2012/05/aol-looking-to-sell-tech-websites/.

©2019 InvestorPlace Media, LLC