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February 7, 2011

AOL buys Huffington Post for $315 million

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by Brian Turner

The Huffington Post has been sold to AOL for $315 million, the majority of which in cash.

The acquisition adds to AOL’s already extensive online publishing portfolio, which includes websites such as Engadget and Techcrunch.

Arianna Huffington, co-founder of the Huffington Post, will serve as director of AOL’s content division.

“The Huffington Post will continue on the same path we have been on for the last six years - though now at light speed - by combining with AOL,” she said in a joint statement published on the Huffington Post website.

The acquisition is part of AOL’s chief executive Tim Armstrong’s bid to turn AOL into a major publishing force, in order to help push the company’s advertising revenues.

While AOL already owns a number of technology news websites and blogs, the Huffington Post is a firmly political news website aimed at the centre-left.

Story link: AOL buys Huffington Post for $315 million

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