TechCrunch publisher Michael Arrington, speaking at the TechFlash Town Hall in June, indicated that he was ready to sell.

Five years after starting TechCrunch in his Silicon Valley home, Michael Arrington has sold the profitable blogging empire to AOL. The news should not come as a surprise to our readers. Just three months ago, Arrington (who had recently relocated to the Seattle area) participated in a TechFlash Town Hall event in which the blogger indicated that he was ready to sell out.

"It’s been five years, and I gotta tell ya, I’m ready -- ready to take that money, whether it’s a success or not, and then see ya later, and then never talk to anybody in this community again," Arrington said at the time.

The comments created a minor dust-up in the blogosphere and Arrington was angered by our follow-up post in which we tried to set the record straight on what he said. After the post, Arrington said that he was joking and that we took his comments out of context. [Update: "Video: TechCrunch's Arrington signs away the company to AOL"]

He referred back to a TechFlash interview in May in which he addressed a possible sale of TechCrunch, saying that the "independent press is a good thing" and that he had turned down other offers in the past. That's how he really felt about the issue of selling out, he said.

"It has never made sense. I am not sure that I would want to work at a TechCrunch that had been acquired," he said in the interview.

Now, it is unclear whether Arrington was talking to AOL or anyone else in mid-June when we held the TechFlash Town Hall. But it seemed pretty clear to us -- as well as other people attending the event -- that Arrington was ready to cash out.

In fact, a number of people in the Seattle tech community started a pool in order to guess how long it would take for Arrington to sell TechCrunch. (The over-under was 18 months, so those who took the under won out). Some also had speculated, including a number of TechFlash readers, that Arrington moved to the Seattle area because of tax issues.

Washington state does not have an income tax, though Initiative 1098 could impose one on those individuals who make more than $200,000 a year. It is unclear whether Arrington would be hit with the new tax if it passed this November, and he's discounted theories that he moved here for those reasons. Arrington has family in Anacortes, and that was one of the big reasons why he moved to the area, he says.

Despite the complex back story, the sale of TechCrunch is nonetheless a sizable achievement for Arrington. The deal was sealed onstage today at the TechCrunch Disrupt conference in San Francisco, with Arrington asking audience members whether he should sign the official paperwork or not. The majority said no, but Arrington signed anyway, according to CNNMoney.

In a statement, Arrington said that AOL CEO Tim Armstrong has an "exciting vision for AOL" in terms of creating "world-class content."

“I look forward to working with everyone at AOL as we build on our reputation for independent tech journalism and continue to set the agenda for insight, reviews and collaborative discussion about the future of the technology industry," said Arrington.

We've reached out to Arrington and we'll update the post if we hear back.

Meanwhile, here's a memo that went out to AOL staffers about the deal earlier today from David Eun, president of AOL Media and Studios:

Today we are announcing the acquisition of TechCrunch and its network of websites dedicated to technology news, information and analysis. Please take a look at the release.

This acquisition is tightly aligned with our strategy to become the global leader in sourcing, producing and delivering high-quality content to our audiences. Adding TechCrunch and its many associated properties like CrunchGear, MobileCrunch and TechCrunchIT as well as its industry-leading conference programs will bolster our position as one of the world’s leading providers of tech-oriented content-- making us a must buy for advertisers seeking to associate their brands with leading technology content and a desire to reach this premium audience.

And like Engadget, Switched, TUAW and all of our other content properties, TechCrunch will retain editorial independence – which is of paramount importance to our management and to the entire TechCrunch team. The company will also remain headquartered in San Francisco.

Behind each successful start-up is a passionate founder and for TechCrunch, that person is Michael Arrington. Michael, Heather Harde, CEO of TechCrunch, and their colleagues have built a powerful brand and with the AOL resources behind them, I expect that they will continue to set the agenda for insight, reviews and collaborative discussion about the future of the technology industry.

Please join me in welcoming the TechCrunch team to AOL!

Go AOL!