This content is from: Innovation
AOL To Buy Huffington Post For $315M
AOL is buying news and analysis website, The Huffington Post.
AOL is buying news and analysis website, The Huffington Post. The U.S. global Internet services and media company will pay a total of $315 million for the acquisition. The transaction, which is subject to customary closing conditions, is expected to close in the late first- or early second-quarter 2011.
The new group will have a combined base of 117 million visitors a month in the U.S. and 270 million globally. As part of the transaction, co-founder and editor-in-chief of Huffington Post, Arianna Huffington, will be president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL contents.
Click here for the release from The Huffington Post.