• by Joe Mandese  @mp_joemandese, June 23, 2015

AOL officially ends one chapter and enters a new one -- one, as its new positioning states, that will be “Powered by Verizon.” The companies announced the successful completion of Verizon’s tender offer at close-of-day Monday, and have scheduled a briefing for later this morning to explain details of it and next steps on product integration and expansion plans.

Among the highlights that will be most relevant to Madison Avenue is the fact that AOL will continue to operate independently, with Verizon folding its Digital Media Services into a new consolidated “stack” for advertisers and publishers.

“DMS is a next-generation B2B platform that simplifies the preparation, delivery and display processes for content of any size, to audiences on any device, everywhere,” an AOL spokesperson noted in today’s deal-closing announcement.

AOL chief Tim Armstrong will continue to lead its operations, with Verizon DMS President Bob Toohey reporting to him. Armstrong, in turn, will report to Marni Walden, Verizon executive vice president and president of product innovation and new businesses.