La compra se hará en forma de una oferta pública de acciones seguida de una fusión, con lo que AOL se convertirá en una subsidiaria propiedad total de Verizon al finalizar el proceso.
El actual presidente y director ejecutivo de AOL, Tim Armstrong, seguirá al frente de las operaciones de AOL después del cierre de la operación que se espera que concluya en verano, pese a las aprobaciones regulatorias.
Con esta compra, Verizon pretende "dar al cliente una experiencia digital 'premium' basada en una plataforma en red con una multipantalla global. Esta adquisición refuerza nuestra estrategia de ofrecer conexión desde distintos soportes para los clientes, creadores y anunciantes", aseguró el consejero delegado de Verizon, Lowell McAdam, en un comunicado.
En él asegura que, como líder de contenido digital y plataformas de anunciantes, AOL ayuda a Verizon a dirigirse de forma más precisa e individualizada al cliente del nuevo mercado digital y calcula que, con la suma de ambas, se crea un negocio publicitario que valora en 600.000 millones de dólares.
La operación era un secreto a voces y Armstrong ya había asegurado a la prensa los días anteriores que, con esta fusión, se creaba lo que consideraba "el negocio más extenso de telefonía móvil y vídeo de los Estados Unidos".
Armstrong, que llegó en 2009 a AOL proveniente de Google con intención de reflotarla tras el descalabro que sufrió en 2000, aseguró hoy que ambas empresas "comparten visión".
"Estamos desando trabajar con el equipo de Verizon para crear la próxima generación de contenido a través del móvil y el vídeo", dijo en el comunicado.
Lo que hoy se anunció fue el acuerdo entre ambas empresas, pero queda pendiente la tramitación legal de la operación, que tendrá que ser aprobada por las autoridades de competencia y que se prevé esté lista para el verano.
Mientras tanto, Verizon prevé pagar la adquisición con efectivo y emisión de deuda a corto plazo y, en los días anteriores, la empresa ya anunció sus planes de lanzar una plataforma de vídeo más allá de su actual servicio para teléfonos móviles.
Aunque no ofreció muchos detalles, el director de finanzas, Fran Shammo, aseguró días antes de la operación que la intención de la operadora era ofrecer un servicio mixto (con contenido gratuito y de pago) que crearía un nuevo modelo que nada tiene que ver con la televisión tradicional, según The Wall Street Journal.
Verizon generó el año pasado unos ingresos de 127.000 millones de dólares y unos beneficios de 12.000 millones, mientras que AOL facturó el año pasado 2.500 millones de dólares (un 9 % más que el año anterior) y registró unos beneficios de 126 millones de dólares.
AOL, si bien no ha conseguido recuperar la gloria que alcanzó antes de que la burbuja de las puntocom, bajo la dirección de Armstrong sí ha realizado movimientos estratégicos de recuperación como un sistema de elección de anunciantes por subasta de probada eficacia.
Además, AOL es dueño de varios medios de comunicación, entre los que destaca el Huffington Post, TechCrunch o Engadget, activos que estarían en venta. De hecho, Re/Code apunta a que Axel Springer se ha interesado ya por el Huffington Post que estaría valorado en 1.000 millones de dólares.
Fuente: Agencia EFE
Info Oficial:
Verizon to Acquire AOL
New York – Taking another significant step in building digital and video platforms to drive future growth, Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the signing of an agreement to purchase AOL Inc. (NYSE: AOL) for $50 per share -- an estimated total value of approximately $4.4 billion.
Verizon’s acquisition further drives its LTE wireless video and OTT (over-the-top video) strategy. The agreement will also support and connect to Verizon’s IoT (Internet of Things) platforms, creating a growth platform from wireless to IoT for consumers and businesses.
AOL is a leader in the digital content and advertising platforms space, and the combination of Verizon and AOL creates a scaled, mobile-first platform offering directly targeted at what eMarketer estimates is a nearly $600 billion global advertising industry. AOL’s key assets include its subscription business; its premium portfolio of global content brands, including The Huffington Post, TechCrunch, Engadget, MAKERS and AOL.com, as well as its millennial-focused OTT, Emmy-nominated original video content; and its programmatic advertising platforms.
Lowell McAdam, Verizon chairman and CEO, said: “Verizon’s vision is to provide customers with a premium digital experience based on a global multiscreen network platform. This acquisition supports our strategy to provide a cross-screen connection for consumers, creators and advertisers to deliver that premium customer experience.”
He added, “AOL has once again become a digital trailblazer, and we are excited at the prospect of charting a new course together in the digitally connected world. At Verizon, we’ve been strategically investing in emerging technology, including Verizon Digital Media Services and OTT, that taps into the market shift to digital content and advertising. AOL’s advertising model aligns with this approach, and the advertising platform provides a key tool for us to develop future revenue streams.”
Tim Armstrong, AOL chairman and CEO, will continue to lead AOL operations after closing.
Armstrong said, “Verizon is a leader in mobile and OTT connected platforms, and the combination of Verizon and AOL creates a unique and scaled mobile and OTT media platform for creators, consumers and advertisers. The visions of Verizon and AOL are shared; the companies have existing successful partnerships, and we are excited to work with the team at Verizon to create the next generation of media through mobile and video.”
The transaction will take the form of a tender offer followed by a merger, with AOL becoming a wholly owned subsidiary of Verizon upon completion.
The transaction is subject to customary regulatory approvals and closing conditions and is expected to close this summer.
Verizon expects to fund the transaction from cash on hand and commercial paper. The company also continues to expect to return to pre-Vodafone transaction credit ratings in the 2018-2019 timeframe.
Transaction advisers for Verizon were LionTree Advisors; Guggenheim Partners; and Weil, Gotshal & Manges. AOL advisers were Allen & Company LLC and Wachtell, Lipton, Rosen & Katz.
Forward-Looking Statements
In this communication we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words “anticipates,” “believes,” “estimates,” “hopes” or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The following important factors, along with those discussed in our filings with the Securities and Exchange Commission (the “SEC”), could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: adverse conditions in the U.S. and international economies; the effects of competition in the markets in which we operate; material changes in technology or technology substitution; disruption of our key suppliers’ provisioning of products or services; changes in the regulatory environment in which we operate, including any increase in restrictions on our ability to operate our networks; breaches of network or information technology security, natural disasters, terrorist attacks or acts of war or significant litigation and any resulting financial impact not covered by insurance; our high level of indebtedness; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing; material adverse changes in labor matters, including labor negotiations, and any resulting financial and/or operational impact; significant increases in benefit plan costs or lower investment returns on plan assets; changes in tax laws or treaties, or in their interpretation; changes in accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; and the inability to implement our business strategies.
Additional Information and Where to Find It
The tender offer for the outstanding shares of AOL Inc. (“AOL”) has not yet commenced. This communication is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of AOL, nor is it a substitute for the tender offer materials that Verizon Communications Inc. (“Verizon”) and its acquisition subsidiary will file with the U.S. Securities and Exchange Commission (the “SEC”) upon commencement of the tender offer. At the time the tender offer is commenced, Verizon and its acquisition subsidiary will file tender offer materials on Schedule TO, and AOL will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other tender offer documents) and the Solicitation/Recommendation Statement will contain important information. Holders of shares of AOL are urged to read these documents when they become available because they will contain important information that holders of AOL securities should consider before making any decision regarding tendering their securities. The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all holders of shares of AOL at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s website at www.sec.gov. Additional copies may be obtained for free at Verizon’s website at www.verizon.com/about/investors or by contacting Verizon Investor Relations, Verizon Communications Inc., One Verizon Way, Basking Ridge, NJ 07920.
