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On June 23, 2015, AOL was acquired by Verizon Communications for .4 billion.AOL began in 1983, as a short-lived venture called Control Video Corporation (or CVC), founded by Bill von Meister.
It passed tokens back and forth and provided a fixed price service tailored for home users.
At the height of its popularity, it purchased the media conglomerate Time Warner in the largest merger in U. AOL was eventually spun off from Time Warner in 2009, with Tim Armstrong appointed the new CEO.
Under his leadership, the company invested in media brands and advertising technologies.
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