Tim Armstrong will continue to lead AOL operations, reporting to Marni Walden, Verizon executive vp.
"As a result, AOL shares will no longer be traded on the New York Stock Exchange, and AOL is now a wholly owned subsidiary of Verizon," the company said.
16:16 Luxottica, Essilor $24 billion merger creates eyewear giant18
17:41 Ford to Record Pre-Tax Loss of $3 Billion in 201617
14:14 Ford expects $2B net income drop due to pension change15
14:53 Netflix fueled by original programming, even as its costs hold earnings back, analysts say16