It’s well known that my husband has worked for AOL for 20+ years. We met at AOL and it’s where I started my post college career. When I finally left for good, I had 12 years under my AOL logo belt. AOL is a big part of our history together and the thread that binds us with many of our closest friends. Today’s announcement – Verizon to Acquire AOL: Deal Creates Unique and Scaled Digital Media Platforms for Consumers, Advertisers and Partners may or may not have a profound affect on us.
But it will have some affect I am sure. Scott and I were both at AOL when they merged with Time Warner in 2000. What was so exciting in the beginning, ended up being one of the biggest failures. It’s no wonder that this morning’s announcement has many former AOL’ers recalling previous experience and wondering whether it will play out the same. AOL’s current leader, Tim Armstrong, seems to feel strongly that it’s the right direction. In CNBC’s coverage online, Why we sold to Verizon: AOL’s Tim Armstrong says “the Verizon deal was the biggest, fastest way to provide a return to AOL’s shareholders and a bright future to its employees.” This explanation is pretty nebulous and not unexpected since the merger was just announced.
I am not sure what to think about this merger yet. Like many others, my first thought upon hearing the news this AM was “How will this affect my family?” Until I feel comfortable with that answer, the rest isn’t as important. I am curious what others out there are thinking. A former respected AOL colleague shared his thoughts with me…
In 2000, our deal was about “content and cable distro”. Problem was, people fought, and won, and we never got onto TW cable. That, plus illicit conduct, ruined the deal. I had thought in 2005, that they should just fill up CC2 w/ mobile app developers, and let em rip. This deal, is about content (and ads management) on mobile phones. In 2 years, 80% of all content will be consumed on a device. Vz needed reliable content production, with ad platforms built in. TA will get a huge job at Vz. He hit it big, again. Overall, prob a good thing, and maybe becomes a good place, again?
All any of us can do when things like this (aka change) happen, is to be as prepared as you can and learn to be comfortable being uncomfortable.