AOL is buying the video advertising platform Adap.tv, it announced in its second-quarter earnings report Wednesday. The acquisition “will make AOL a clear global leader in the most important growth segment in our industry — online video,” AOL CEO Tim Armstrong said in a statement. Advertising revenue at AOL was up 7 percent over the second quarter of 2012.
Revenue at AOL’s Brand Group, which includes content properties like The Huffington Post and Patch, was up 10 percent over the second quarter. The report does not break out financial information on individual properties. Unique visitors were up 3 percent at AOL properties, the company says:
21st Century Fox, which includes the cable-TV and television businesses once part of News Corp., reported a 16 percent increase in revenue over the fourth quarter of 2012. “Cable, as always, drove the company’s growth,” Brian Stelter writes in The New York Times. Read more