NO MORE RUMOR: AOL buys TechCrunch [VIDEO]

The news is out all over the tech blogosphere – Tim Armstrong, CEO of AOL took the stage of the TechCrunch Disrupt conference today to announce that AOL has bought Techcrunch, and all its media properties.

Of course we are getting the typical this is a strategic move for both companies and everything will stay the same moving forward. Ya. Okay.

Anyway there has been no disclosure of who got how much money or if there will be and end of the slaughter of movie analogies but suffice to say Michael Arrington just got himself a nice payday.

Courtesy of The Next Web we have video of the announcement:

The one thing I would be concerned about though is if I worked for CrunchGear since Engadget is a premier AOL property. Chances are some folks are going to be looking for a new job.