Thursday 13 March 2008

Disney deny plans to buy AOL

The chief executive of Walt Disney has revealed that the company will not be buying ailing internet service provider AOL.

Speaking at a conference yesterday (March 12th), Robert Iger outlined the ways in which Disney were planning to embrace new technology and the internet, but ruled out an acquisition of the Time Warner company.

In response to BusinessWeek editor John Byrne's question regarding a possible Disney purchase of AOL, Iger replied hastily: "No. We don't want to comment on specific acquisitions, although I just did," reported Reuters.

He added that Disney was also watching the ongoing Microsoft and Yahoo wrangling "from afar".

AOL recently announced that it had promoted Lynda Clarizio to lead its division selling ads across the internet, who will be charged with unifying several advertising businesses, including Tacoda and Quigo.

"Our strategy is to be able to offer the best possible solutions for advertisers," Clarizio told Dow Jones.

"If we can drive greater alignment within this organisation, we should see an improvement in the numbers."

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