TechCrunch Disrupt SF: AOL Close To Buying TechCrunch. Movie?

TechCrunch, the Tech blog started by former lawyer Michael Arrington, is reportedly the center of a deal to be purchased by AOL.

If so, the deal, expected to be announced at TechCrunch Disrupt SF, is a major sign of the growing power and value of blogs.

PerezHilton.com was recently valued at $20 million, and was at $48 million.  From that, and given TechCrunch revenue generation of about $3 million, a fair estimate for purchase is about $30 million.

Michael started TechCrunch in 2005 and has skillfully grown it to where it is today, known not just for covering the Tech industry, but and at times for better, sometimes worse, influencing it.

Michael's best move was in bringing in Heather Harde as CEO. Her presence has served to add stability and legitimacy to the organization around the blog. The conferences have dramatically improve in terms of presentation and sponsor visibility.

Though it all, Michael has managed to maintain a sense of humor:



According to Gigaom, the terms of the deal have not been announced. AOL CEO Tim Armstrong, who was at TechCrunch Disrupt New York City, is expected to appear at TechCrunch Disrupt SF this week, and that, reportedly, is when the deal will be announced.

Congratulations to Michael, Heather, and the staff at TechCrunch. This blogger's waiting for the movie.

Wonder what it would be called?