It was just a matter of time, we are learning that Mike has sold TechCrunch to AOL!

TechCrunch is one of the top influential blogs in Silicon Valley, and some would say beyond, and worldwide.

AOL already includes Engadget, Switched, TUAW and Download Squad.

The announcement was made at TechCrunch Disrupt in San Francisco where AOL CEO Time Armstrong and TechCrunch Founder and Co-Editor Michael Arrington where present and took the stage and made the announcement.

Congrats to Mr. Arrington.

So why is AOL buying TechCrunch?

How much did AOL pay for TechCrunch? Rumors are $40 million!!! Wow.

Will Michael Arrington stay on?  I would imagine yes, but needs to be confirmed.  udpated: Michael Arrington is reportedly staying on for 3 years.