• MediaMemo, Wednesday, September 22, 2010 12:07 PM

About AOL's $100 million cap on acquisitions? Gone, CEO Tim Armstrong said at Goldman Sachs' media conference this week. "Cue the bankers (who were already dialing madly, anyway)," jokes MediaMemo. Where might AOL be investing its hundreds of millions of dollars? Armstrong isn't saying. What about investing in a more coherent video strategy. Maybe, but Armstrong isn't saying.

"Yes, we have a video strategy, and no, I'm not going go into detail on it," Armstrong said at the Goldman conference. "Pressed a bit more, he suggested we check out AOL's Cambio.com for a sense of where his site is headed," writes MediaMemo. "And he did remind the crowd that his new Google deal - which he described as a 'grand slam for us' - has specific incentives to get AOL's stuff on YouTube." According to "preliminary estimates," Jeffries analyst Youssef Squali recently said that AOL's Web and mobile search deal with Google will boost AOL profits $20 million to $40 million in 2011.

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