America Online is acquiring Truveo, a video search startup that has built technology to more easily find the latest news, sports and other online video offerings, an Associated Press report said.
The acquisition 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, the report said.
Terms were not disclosed, but spokesman Nicholas Graham said it was the largest since AOL's purchase of Advertising.com for $435 million in cash in 2004.