AOL is not trying to sell TechCrunch and Engadget for $70-$100 million, says CEO Tim Armstrong.However, that doesn’t mean he’s not trying to do something with them.
After earnings, Armstrong told Reuters the report that he was looking to dump AOL’s top tech properties was “100 per cent untrue.”
However, he also told Ad Age that he has spoken with “outside entities” in the words of Ad Age about investment in the tech sites.
So, what’s going on here? We would speculate Armstrong thought about spinning out AOL Tech into its own thing, retaining a stake in the new company. Eventually, it could sell off that company, or it could keep it.
Regardless, he tells AdAge, “We are planning to invest in those properties, not sell those properties.”
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.