AOL set to acquire TechCrunch: report

If a report is correct, AOL is about to become as relevant to the Internet as it once was, in the days before broadband was popular, when it was large enough to buy Time-Warner. GigaOM has reported that AOL is on the verge of buying TechCrunch.

The timing couldn't be more perfect; TechCrunch, the online blogging network started by Michael Arrington, is currently holding its Disrupt conference in San Francisco. The report said that the deal is at a sensitive stage and might fall apart. However, GigaOM did not believe that would happen.

In fact, the report indicated that it's possible that AOL CEO Tim Armstrong might make an appearance at Disrupt to announce the deal, assuming it completes. The deal would make sense. No longer an ISP power, AOL wants to become a power in terms of providing content. In 2005, AOL acquired Weblogs Inc., the parent company of some 90 blogs, including popular sites Engadget, TUAW, and Joystiq.

Inc. Magazine recently reported that TechCrunch generates $10 million in annual revenue. Meanwhile, TechCrunch itselfs says it has 9.2 million unique visitors a month.