AOL Gambles $315 Million Acquiring Huffington Post

Posted 02/07/2011 at 9:07am | by Paul Lilly

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AOL once ruled the dial-up domain, and if you're a packrat, you probably have a bunch of AOL CDs stuffed in a shoebox tucked away in the basement. Those glory deays are behind them now, and going forward, AOL has set its sights on being a major player in the online news market. Adding to its growing list of media outlets -- which includes TechCrunch, Engadget, and AutoBlog, among others -- the once popular ISP is buying The Huffington Post for $315 million.

"The acquisition of The Huffington Post will create a next-generation American media company with a global reach that combines content, community, and social experiences for consumers," said Tim Armstrong, Chairman and CEO of AOL. "Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers."

Arianna Huffington will oversee all editorial content as President and Editor-in-Chief of The Huffington Post Media Group. AOL says it plans to fully integrate The Huffington Post with all AOL content, including Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList, and more.

According to AOL, the deal will result in 117 million unique visitors a month in the United States alone, and 270 million around the globe.