Hammer time as AOL nails TechCrunch

What do you get when you cross MC Hammer with an injured and badly limping internet giant?

Well according to TechCruch’s Michael Arrington, whose website has just been bought by AOL, the answer is “awesomeness in a bottle.”

The web outfit, under CEO Tim Armstrong, went on a big spending spree yesterday. It scooped up no less than three dotcom firms in a clear shift away from AOL’s ailing subscriber base.

AOL kept terms of the TechCrunch deal secret, but reports have suggested that Armstrong’s company paid around $25m for the site, which was founded by Arrington.

“Engagement with thought leaders is as important to AOL as our engagement with our contributors, audiences, publishers and advertisers, and TechCrunch’s conferences and websites will give us a promising, additional springboard to join and amplify these conversations,” said AOL media president David Eun.

Additionally AOL bought online video network 5min Media and social network tools start-up Thing Labs Inc yesterday.

But the company didn’t just splash cash on Tuesday, as it also said it would imminently kill its news aggregator Propeller.com.

The shutters will come down on that particular venture on 1 October, said AOL. Earlier this year Armstrong let go of loss-making social network site Bebo and sold AOL's ICQ instant messaging service.

As for MC Hammer, he turned up at the TechCrunch after party for a bit of a boogie with Arrington and 2,000 other lucky souls. ®