AOL’s chief executive insists rumors that the digital media company is a potential takeover target of Verizon Communications are just that, rumors.
“Verizon’s a huge partner of ours, in general … [but] there’s always rumors about AOL and I would categorize the Verizon stuff as rumors,” Tim Armstrong told FBN’s Liz Claman Wednesday at the 2015 Consumer Electronics Show in Las Vegas.
Reports surfaced earlier this week that Verizon had approached AOL (NYSE:AOL) about a potential acquisition or joint venture. But Armstrong said AOL is more interested in content partnerships than M&A deals.
“We’re a really interesting partner for partners,” Armstrong said. “From an independent standpoint, and what we’re doing—we’re attractive to a lot of companies because we have a singular focus on where the future is.”
Speaking at a conference on Tuesday, Verizon Communications (NYSE:VZ) CEO Lowell McAdam also denied the acquisition reports.
“To say that we are having significant acquisition discussion is really not accurate,” said McAdam.
Despite the Verizon speculation, Armstrong said AOL’s focus remains the same.
“Our vision has been really clear, we want to build the world’s best media technology company,” Armstrong told FOX Business. “From my standpoint right now, the vision and mission we’ve been on, and the 4,500 AOLers, have been singularly focused on that, and nothing that you read in the press is going to change us from that focus.”