Photo

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Photo

Weird homes

Home is where the heart is, no matter what unusual form that home may take.  Slideshow 

Photo

The drone wars

The frontlines of America's covert drone program.  Slideshow 

Sponsored Links

AOL not chasing Yahoo, will stay independent: CEO

Related Topics

AOL chairman and Chief Executive Officer Tim Armstrong speaks at the Reuters Global Media Summit in New York, November 28, 2011. REUTERS/Brendan McDermid

AOL chairman and Chief Executive Officer Tim Armstrong speaks at the Reuters Global Media Summit in New York, November 28, 2011.

Credit: Reuters/Brendan McDermid

NEW YORK November28 | Mon Nov 28, 2011 5:55pm EST

NEW YORK November28 (Reuters) - AOL Inc does not plan to buy any of Yahoo's assets, AOL's chief executive said on Monday.

Speaking at the Reuters Global Media Summit, AOL's Tim Armstrong reiterated the company's strategy of staying independent and growing its ailing brand, known for its dial-up services, into a media powerhouse dependent on advertising revenue.

Since Armstrong took over as CEO of AOL in 2009, the company has made flashy acquisitions including political blog Huffington Post and the technology blog TechCrunch.

Armstrong said that TechCrunch's valuation has only gone up since AOL took it over more than a year ago for what a source said at the time was about $30 million.

(Reporting by Jennifer Saba and Yinka Adegoke. Editing by Peter Lauria)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.