New York – Looking to ramp up its technology innovation, AOL (NYSE: AOL)
said on Wednesday that it has signed on to become a "consortium-level
sponsor" of the MIT Media Lab, which conducts research projects aimed at
developing cutting-edge digital technologies.
The lab said that such a
sponsorship costs $200,000 for three years. The news comes two weeks after AOL
confirmed that CTO Ted Cahall was leaving the company, and named Google veteran
Jeff Reynar as its head of technology for engineering and products in New York.
co-founder of social search developer DBT Labs, will lead the company’s new New York Technology Center,
which AOL said it is launching to increase engineering talent for its content
"AOL and the Media Lab have each pioneered significant advances
in the way people communicate and consume information in a digital environment,
which makes this an exciting collaboration for AOL," said Reynar.
"Investing in innovation in a creative, non-traditional environment is a
fundamental part of AOL’s future."