Tim Armstrong just announced to a roomful of banker-types that AOL is ready to spend big on acquisitions.

He says the $100 million limit on acquisitions is going away, Peter Kafka at Media Memo reports.

Armstrong also said at the conference that as people think of Google for search, and Amazon for eCommerce, they will think of AOL for content.

If Tim Armstrong is opening his wallet, and he wants AOL to be the content kings, we have some ideas for him...