AOL has confirmed the acquisition of Quigo, a contextual ad network serving text, display and video ads. Quigo's distribution network includes several A-list publishers, including ESPN, Forbes, Time Inc. magazine sites, CareerBuilder, and McClatchy's newspaper sites.
Quigo will be added to AOL's growing Platform A division, formed in September. That unit includes Advertising.com, AOL-run sites, Tacoda, Third Screen Media and AdTech.
AOL parent Time Warner also reported earnings today. AOL advertising revenues rose 13 percent year-to-year to $61 million, which was not enough to counteract a 56 percent plummet in subscription revenues.
Time Warner also announced this week that Chairman and CEO Dick Parsons will step down at the end of the year, and COO Jeff Bewkes will take his place. That move, along with the moves to beef up AOL's ad business, have many guessing that the company will be split up soon.
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