Tuesday, February 27, 2007

Third Screen in Buyout Talks with AOL - Boston, MA

Looking to enter the fast-growing market for advertising on cell phones, Time Warner's AOL subsidiary is negotiating to buy Boston-based mobile advertising startup Third Screen Media, The Wall Street Journal reported. The paper said that the price of the deal would likely be around $80 million. Third Screen, which last year was nearly acquired by Microsoft's MSN unit before talks fell apart, is a developer of technology that can post small ads on cell phone screens. AOL reportedly sees the deal as a chance to add another source of revenue after last year switching to an ad-supported business model. The Journal said that Third Screen currently serves about 350 million ads a month for clients such as Ford Motor Co. and Bank of America.



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