TECH CRUNCH - June 17 - The rumors are true: hedge fund Criterion Capital Partners is indeed the buyer of Bebo. AOL is offloading Bebo for less than $10M (other media are reporting a purchase price of around $2.5 million). Criterion Capital Partners will take over Bebo’s global operations immediately and retain its San Francisco-based headquarters. Exact terms of the deal are not being disclosed by either party, but AOL CEO Tim Armstrong sent a note to all employees this morning that suggests our earlier reports that the ability to offset almost the whole sum it paid for Bebo as a tax loss played a big role are correct. FULL ARTICLE @ TECH CRUNCH
