AOL Chief Executive Tim Armstrong told an audience at Business Insider's Ignition Conference that he’s 'cautiously optimistic' that Verizon’s acquisition of Yahoo will go through despite
the internet company’s disclosure this fall that it suffered a significant data breach," according to a
Wall Street Journal report. Armstrong conceded that the data breach has slowed
Verizon/AOL's plans to acquire Yahoo. Armstrong predicted "that over the next few years, as more companies in digital media grapple with Google and Facebook's advertising dominance, there will
be more consolidation driven by a desire to build larger audience scale," he told the
Journal. He said the ad market is hitting a place where an audience reach of billions is more important
than billions. AOL/Verizon and Yahoo are looking to reach 2 billion customers by 2020, Armstrong said.
Read the whole story at Wall Street Journal »
