Wednesday, February 9, 2011

AOL Acquires HuffingtonPost for $315 Million

A press statement was released by The Huffington Post and AOL regarding the latter acquiring the former.


Acquisition Will Solidify AOL's Strategy of Creating a Premier Content Network With Local, National and International Reach
Arianna Huffington To Lead Newly Formed The Huffington Post Media Group Which Will Integrate All Huffington Post and AOL Content, Including News, Tech, Women, Local, Multicultural, Entertainment, Video, Community, and More
The New Combined Media Group Will Reach 117 Million Americans and 270 Million Globally
Group Uniquely Positioned To Redefine the Future of Brand Advertising and Marketing For an Engaged and Influential Audience

AOL through its acquisition of popular news, lifestyle and blog site HuffingtonPost aims to boost its online presence not only in the US but also to the world. AOL reportedly purchased HP for $315 million and will pay $300 million in cash.

Arianna Huffington, co-founder of HP will become the president and editor-in-chief of The Huffington Post Media Group. It will include a whole lot of websites from AOL like Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList to name a few.

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