Report: AOL Tried To Buy Associated Content, Failed

Denver-based Associated Content, which operates an online content aggregation site, was in talks to be acquired by AOL, according to a report today from the Business Insider. The Insider, quoting a "source familiar with the talks" said the deal was part of AOL's move to become a next-generation media company, but fell through because AOL CEO--and Associated Content investor--Tim Armstrong was unable to get enough cash to purchase the firm. Associated Content is venture backed by SoftBank Capital, Canaan Partners, in addition to Armstrong, an angel investor in the company.