AOL to buy Huffington Post in $315M deal
Online company AOL Inc. is buying the high-traffic website Huffington Post in a $315-million US deal.
The acquisition, which will put Huffington Post co-founder Arianna Huffington in charge of all AOL content, brings AOL an additional 25 million unique visitors a month.
The deal "will create a next-generation American media company with global reach that combines content, community and social experiences for consumers," AOL CEO Tim Armstrong said in a statement announcing the deal early Monday.
Founded in 2005, Huffington Post is owned by Huffington, Kenneth Lerer and a group of other investors. AOL will pay $300 million US of the purchase price in cash.
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