There's no getting around it: Aol has bought out well-known internet tech news site TechCrunch for an undisclosed amount of money. The acquisition encompasses all of TechCrunch's websites including GreenTech, TechCrunchIT, CrunchBase, CrunchGear and yes, the Crunch Empire mother ship itself, TechCrunch. That's a whole lotta website.
The buyout was announced at the TechCrunch Disrupt event by TechCrunch founder Michael Arrington and Aol CEO Tim Armstrong. Armstrong told those in attendance that Aol planned to allow TechCrunch's merry band of journalists and editors to maintain editorial independence despite the plans to integrate TechCrunch websites into the Aol Technology Network. He also lauded the site's journalism for their responsible editorial and journalistic habits staying, “Michael and his colleagues have made the TechCrunch network a byword for breaking tech news and insight into the innovative world of start-ups, and their reputation for top-class journalism precisely matches Aol’s commitment to delivering the expert content critical to this audience.”
Michael Arrington implied that he would remain with TechCrunch for at least three more years out of a contractual obligation to Aol.
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