There are reports that AOL has acquired Weblogs, Inc. and will officially announce it later this week. The acquisition price, including earnouts, is reported to be $20-35 million.

Weblogs, Inc., founded by Jason Calacanis and Brian Alvey was launched just two years ago and is funded by Mark Cuban. Calacanis has reported a revenue run rate of about $2 million.

Congratulations to all of the bloggers and employees of Weblogs, Inc. There are a number of additional public/private acquisition deals that will be announced this month as well.