AOL (AOL) is close to selling the social-networking site Bebo to Criterion Capital Partners, the Wall Street Journal reports, citing “a person familiar with the situation.” The piece said the exact terms could not be learned but that “people familiar with the situation” say the price is a small fraction of the $850 million AOL paid for the site two years ago.
Something is better than nothing; the company had said it would shut the site down if it couldn’t find a buyer.
AOL is up 37 cents, or 1.7%, to $22.01.
Update: TechCrunch reports that the price tag is $10 million or less.
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