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AOL CEO Tim Armstrong on the future of mobile media and how it will change local news.
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These days do you see people watching TV shows -- not on the TV -- -- -- -- tablets are funds and -- in the media and cable world is best positions to succeed.
This new era of -- also -- it was Clinton meantime live today the national cable show which is being held in Boston -- We have Boston convention center where the MCT -- the national cable show what's happening right now.
Worth the fox that there's Gerri Willis -- Gerri Willis signing some autographs right now.
But look what does it tell you that one have been most in demand people on this floor for the next couple of days is not a cable -- But an Internet and digital guy Tim Armstrong the chairman and CEO of AOL and is learning to shrewdly navigate these very competitive waters right now.
You know Fox Business exclusive he's telling how he will succeed in providing you contents.
For less.
Our new strategy to -- agnostic to cross platform so -- like broke through happening or.
Apple TV or those type of program those set of technologies which we have the cable companies -- -- has been disruptive.
We see -- as an opportunity both to work with the new technologies as well we have AOL HD.
And after that we put across all the television platforms whether it's traditional for the new.
Technologies and I think.
The other companies are gonna do best in the future we believe that companies that serve consumer needs.
On the problems of very simplistic but also branded way I think cable has done a great job of on the -- big brands together for consumers.
And I think as the Internet platforms take off they're now trying to do the same thing and I think it's an exciting time period crosses are content company to be involved.
Patch dot com local news local -- it a couple of years ago before he came to AOL.
What do you gonna do without.
Can make money off something.
Sure so we're doing the same -- you probably saw last week Warren Buffett invested in local newspapers so we believe the same thing Warren Buffett does which is local community news and information.
The central hub of those communities we get sixty to 80%.
Population in the towns on past Doug Palmer and almost 900 towns across the US.
The highest GDP town so.
If you think ten years from now what's -- important -- it's going to be.
Access to information go to share information and commerce and that's -- -- doesn't community.
Speaking of news both local and national possibly international to Yahoo! announcing that didn't sell half of its stake in Alibaba for.
Billions and billions of dollars and it's the chatter -- well merging with Yahoo! any chance of something like.
Better strategic partnership.
Yeah I think both companies are probably focus on what we're doing individually on the strategy standpoint but.
You know I would say a couple things I think one is -- -- like -- a big strong company with hundreds of millions of users and I think over the course of -- people have discounted the ability for the portals.
To kind of be a very good curator of information for people so I'd expect.
Yahoo! to get healthier AOL to get a healthier and you know can report from the the future for the future of our consumer usage and advertise OK so not a partnership for a competition style -- sidekick understands and it is based on advertising and I think you're good to companies were probably do more things the future together but.
But -- for the time period now I think we're partnerships for them I think will remain.
-- -- -- but I -- merger acquisition right now probably not on the cards.
The swift move that you recently made selling a billion point one.
About your patents to Microsoft.
And things are going well stock is up 30% year over here and it feels like -- -- -- cool once again.
Just at that point you have an agitator investor in the form adjustments and start over value.
-- promised a couple things he would have to independent directors and that he would return billions in shareholder value to shareholders.
This -- Donna have you talked honestly gonna get off your back.
We have a disagreement with the the dissident shareholder -- our case which is a timeframe when things like patch dot com and some investments we're making for the future.
That we believe -- big -- investments sort of helped turn.
-- well around they would rather probably do -- short term and sell them.
Follow fall which would you have a choice every day can get up and sell your house burn your furniture sell your cars.
But you -- -- on the street and I think from our standpoint we wanna invest in our neighborhood and our brands and we're gonna continue to do that.
And look at one of the choices that he wants to offer people is a four dollar 95.
Cents package.
That people could live for dial up service you get video -- you can stream their shows that you like.
And you don't pay for cable so -- he was of the general session today Tim Armstrong is somebody people want to talk to right now by the way he's gonna hold on the techcrunch and he is going to make Huffington.
Positive.
Televisions out all that much more -- coming up in the next hour a billionaire decides to get into the digital channel business.
He needs a big name doesn't need to kick this off we are with that big name Larry King it up first on Fox Business interview.
Stay tuned we'll see just an hour back to you guys thank you live live -- it.
