AOL CEO Reportedly Pushing for Yahoo Merger Thursday, October 13, 10:51 AM ET
AOL) CEO Tim Armstrong is reportedly pushing the idea of selling his company to Yahoo (NASDAQ: YHOO).
Reuters reports that Armstrong has been meeting with top shareholders in the past couple of week to sell the idea.
Reuters said Armstrong is saying a merger could result in $1 billion to $1.5 billion in cost savings, from overlapping data centers and duplicate news sites.
Further, Armstrong is suggesting to top shareholders that a tie-up with Yahoo would please advertisers looking for a bigger audience.
Reuters noted that AOL has been struggling to compete for ad dollars with Facebook and Google (NASDAQ:
Yahoo itself is exploring its strategic alternatives, and Microsoft (NASDAQ:
MSFT) is seen as a front-runner in a potential acquisition.
For MarketNewsVideo.com, I'm Tracey Fitzpatrick.
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AOL CEO Reportedly Pushing for Yahoo Merger
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