Verizon Will Buy AOL for $4.4B [VIDEO]

Verizon announced that it will purchase AOL, which owns The Huffington Post, in a $4.4 billion deal aimed at improving ads and Web video content. The move is believed to be linked to Verizon’s goal to expand into the online video arena, where AOL’s existing technologies could give it an advantage. The company’s video service is expected to launch this summer.