AOL has acquired 5min Media, the Web’s largest video syndication platform (comScore Media Metrix data, August 2010). The acquisition allows AOL to significantly expand its consumer offering of contextually relevant, high-quality video across its sites. Deal terms were not disclosed.
“AOL and 5min Media share the same excitement about the direction our industry is taking, and our complementary video capabilities make us a compelling fit and an attractive combination for content creators and publishers”.“Our acquisition of 5min Media is the latest in a number of steps we have taken this year to better position AOL to capture the growing video opportunity on the Web,” said Tim Armstrong, Chairman and Chief Executive Officer of AOL. “AOL is building a video ecosystem for the next decade. 5min Media is the perfect complement to our powerful video capabilities — it provides a missing piece in the AOL value chain that completes our end-to-end video offering from content creation through syndication and distribution to the consumer experience and monetization.”
“AOL and 5min Media share the same excitement about the direction our industry is taking, and our complementary video capabilities make us a compelling fit and an attractive combination for content creators and publishers,” said Ran Harnevo, Co-Founder and Chief Executive Officer, 5min Media. “We’ve seen rapid and successful growth as an independent organization and becoming part of AOL is a natural next step. We’re confident that AOL’s organizational horsepower, combined with the vast library, audience and syndication capabilities 5min Media offers, present compelling opportunities for AOL as well as the content creators we work with and the publishers we serve.”
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