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AOL (s aol), the New York-based online media company, is on the verge of acquiring TechCrunch, the online blogging network started by former attorney, Michael Arrington. The deal is at a sensitive stage and might fall apart yet, but I don’t think so. Sources familiar with both entities says that the announcement is likely to come onstage at Disrupt, TechCrunch’s flagship conference currently underway in San Francisco.

AOL CEO Tim Armstrong is likely to make an appearance at the conference, and perhaps that’s when the announcement is likely to be made. Michael Arrington was unreachable for comment, and AOL has not returned my calls. I still don’t know the terms of the deal, and will update the post accordingly.

AOL in the past had acquired Weblogs Inc., the blogging company behind popular sites such as Engadget. Those blogs have helped AOL compensate for steep loss of traffic. The service has been in the market to buy a technology blog, and is rumored to have been linked with other technology blogs.

On a more personal note, I think this is great news for Mike and his crew. I remember Mike starting out by writing long reviews of web startups in 2005. We often talked about the world of technology and discussed where it was all headed. In the years that have passed, he turned his blog into a company and brought in Heather Harde to run his operation. The company has launched series of events, with TechCrunch SF being the latest. I want to congratulate Mike and his crew on their success.

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Photo of Michael Arrington by Joi Ito via Flickr under Creative Commons.