AOL has closed an $850 million buyout deal for the social-networking site Bebo.
The only remaining big player in terms of the big four Internet companies is now Yahoo, who has yet to make any move on a social network.
AOL CEO Randy Falco stated “When you combine Bebo’s worldwide users with those who use AIM and ICQ, we reach around 80 million.”
AOL will launch a new business unit called People Networks to connect those who use AIM and ICQ along with members of Bebo.
Bebo focuses on advertising-sponsored, Internet-enabled video content, similar to reality TV shows. It is the most popular social-networking site in the UK.