AOL Acquires StudioNow For $36.5M; Ex-Google Reynar’s In, CTO Cahall’s Out

AOL (NYSE: AOL) has come out with a pair of announcements this morning… The company has made it first acquisition since spinning off from Time Warner (NYSE: TWX) last month: the company has bought aggregation site StudioNow for $36.5 million in cash and stock. Separately, after denying that CTO Ted Cahall was leaving AOL last week, the company has acknowledged that he is in fact departing and it is looking for a replacement. In the meantime, AOL has confirmed that it has hired former Google (NSDQ: GOOG) exec Jeff Reynar as Head of Technology for Engineering and Products in New York. In this new post, Reynar will build out and manage AOL