AOL buys TechCrunch, 5min Media

AOL will buy technology blog TechCrunch, one of the most influential blogs in Silicon Valley, as the Internet giant looks to expand its offerings of critical content to its audience. AOL also bought Web video-syndication company 5min Media in an attempt to make its own video content more widely available.

The acquisitions show that AOL, spun off from media giant Time Warner Inc., is doubling down on ad-supported web media content, a business that has largely been a disappointment for the traditional media industry, which is shifting toward online subscription models as a way to generate revenue from digital businesses. For its part, AOL has recently hired hundreds of writers to create more original news and local and entertainment content while it aggressively restructures its mix of assets during sharp declines in revenue and profits.

Founded in 2005, TechCrunch and its network of websites now reach over 10 million unique visitors and draw more than 33 million page views per month. It operates a global network of dedicated properties from Europe to Japan, as well as specialized industry websites including MobileCrunch, CrunchGear and GreenTech.