After selling itself to Verizon and buying Millennial Media, AOL has new opportunities to connect advertisers with people watching news and entertainment on their computers, smartphones and even cable TV.
Millennial Media disappeared from the New York Stock Exchange on Friday after a majority of its stockholders tendered their shares to AOL, closing AOL's $248 million acquisition of the Baltimore mobile advertising technology company.
Millennial Media CEO Michael Barrett is among 18 workers being let go once AOL's acquisition of the Baltimore mobile advertising company closes, and he will walk away with a $2.2 million "golden parachute."
AOL said Thursday morning it plans to buy Baltimore mobile advertising company Millennial Media for about $248 million in a deal that would create a single hub for the industry known as "ad tech" here.
Even though Millennial Media's top executive confirmed Tuesday the company could soon be sold, shares of the mobile advertising company fell 24 percent a day after it reported it continues to lose money at a steady pace.
Millennial Media CEO Michael Barrett earned a $9.5 million compensation package in his first year at the helm of the Baltimore mobile advertising company, more than twice what his predecessor received a year earlier.
Web video advertising firm Videology said Monday it hired a new chief financial officer with experience preparing companies for public stock offerings, a signal the Baltimore-founded company may soon follow through with plans for an IPO.
A class action lawsuit filed Tuesday accuses Millennial Media executives of hiding information that reflected poorly on the company, and, once released publicly, sent the company's stock price tumbling.
Coleman Anderson and his partner Andrew Schuster are betting a few hundred thousand dollars of investors' money that whatever you know about current events, you'll want to test yourself, and you're willing to spend time in the pursuit on their new web site: Newsup. The enterpreneurs and their supporters will celebrate the launch and announce site updates and future plans at a gathering in Towson on Thursday.
Millennial Media's revenue surged 47 percent in the first three months of the year, but its losses more than tripled, and shares fell by nearly half in after-hours trading. CFO Michael Avon meanwhile announced his resignation.
Millennial Media lost $3.8 million despite a surge to $96.7 million in revenue in the fourth quarter of 2013, with both results beating analysts' expectations, but shares fell in after-hours trading on shaky expectations going forward.
Millennial Media Inc., a Baltimore-based mobile advertising firm, reported Wednesday that it lost $4.6 million in the three months ended Sept. 30. That's worse than the $1.8 million it lost in same quarter in 2012.