An interesting rumor has come to us via TechnoBuffalo. Two independent sources have come forward to PandoDaily claiming that AOL is in the market to sell off their AOL Tech branch which includes all their various technology blogs offerings.
The company is reportedly looking to sell the bundle of websites which includes Engadget, TechCrunch, Joystiq, and TUAW. According to their sources, AOL's asking price is somewhere in the area of a hefty $70 to $100 million. Their minimum asking price of $70 million would net the company a profit of around $10 million.
This price range would help AOL to recoup the money they spent to originally acquire TechCrunch and Engadget from Weblogs Inc. AOL is reportedly aware that the sale may take some time and is looking to evaluate the deal over the course of the next six months but would be willing to broker a deal as soon as possible.
AOL is reportedly looking to get out of the tech blog game as they have taken a hit to advertising revenues in the recent months. While their sites retain a great deal of brand recognition, there has been a substantial loss of talent including numerous writers and CEO Heather Harde and Advertising Director Vaughn Brown.
AOL is also reportedly looking to pump quite a bit of money back into their AOL Tech divisions to make the deal more appealing to potential buyers. They have also invested money into bringing a new wave of reporters into the fold while also raising the salaries of long term team members who have chosen to stay committed to their various sites.