AOL buys social network Bebo for $850 million

This post was expanded at 6:43 AM PT with details from the AOL-Bebo conference call.

In an unexpected move, AOL has acquired social-networking site Bebo. The price tag: $850 million in cash.

Rumors had floated over the past few months that Bebo, which has over 40 million members, was up for sale. ...