Article: AOL acquires video search company

ANICK JESDANUN, AP Internet Writer
AP Worldstream
01-10-2006
Dateline: NEW YORK
America Online Inc. is acquiring a video search startup that has built technology to more easily find the latest news, sports and other online video offerings.

The acquisition of Truveo Inc., announced Tuesday, underscores the importance of video in drawing visitors to AOL's ad-supported sites, a big component in AOL's year-old strategy of emphasizing free content over its declining access-subscription business.

Terms were not disclosed, but spokesman Nicholas Graham said it was the largest since AOL's purchase of Advertising.com Inc. for $435 million (euro360 million) in cash in 2004.

Truveo's seven employees will ...

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