Monday, February 7, 2011

AOL Buys Huffington Post

New York-based AOL said in a statement, AOL announced it’s buying the online news and culture website Huffington Post for $315 million, a deal which catapults AOL into a new stratosphere of genuine media company. The offer includes about $300 million in cash and the deal will likely be completed late in the first quarter or early in the second. Under the deal, Huffington founder Arianna Huffington will become President and Editor-in-Chief for many of AOL's Web properties including Engadget, MapQuest, Moviefone, Patch, PopEater, StyleList and TechCrunch.

Huffington said that among her goals for the deal is "to do so much more in the living space especially for women, (and) to do more and more original reporting telling the stories of our time and putting flesh and blood on the economic data."

Read full story AOL's Huffington hopes
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