FOX Business Network (FBN) reports that AOL, Inc. (NYSE:AOL) offered to buy BusinessInsider.com “for more than $100 million.” The FBN report says that AOL, Inc. (NYSE:AOL) considered the possibility of paying Business Insider “between $100 million and $150 million,” but that “the talks ended after officials at Business Insider indicated they wanted a more lucrative offer.”
Excerpts from the report are below.
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On whether AOL offered to buy BusinessInsider.com for more than $100 million:
“AOL, Inc. (NYSE:AOL) offered to purchase BusinessInsider.com, a popular business and technology news website, for more than $100 million but talks ultimately broke down when the two sides couldn’t agree on price, the FOX Business Network has learned. The early stage discussions took place during the second half of 2013, with AOL, Inc. (NYSE:AOL) considering the possibility of paying between $100 million and $150 million, according to a person with direct knowledge of the matter. The talks ended after officials at Business Insider indicated they wanted a more lucrative offer, this person said.”