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AOL to Buy Huffington Post For $315 Million
Posted | February 07, 2011 06:42 AM
US Internet provider AOL will buy The Huffington Post, a rapidly growing news website with nearly 25 million monthly visitors, for $315 million, the company announced Monday.

Approximately $300 million will be paid in cash, it said.

The Huffington Post is privately owned, but the proposed transaction is subject to government approvals.

The boards of directors of each company and shareholders of The Huffington Post have approved the transaction, expected to close in the late first- or early second-quarter of 2011, the announcement said.

Arianna Huffington, The Huffington Post's co-founder and editor-in-chief, will be named president and editor-in-chief of The Huffington Post Media Group, which will integrate all Huffington Post and AOL content.

That includes Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList, and other sites.

"The acquisition of The Huffington Post will create a next-generation American media company with 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."

View this story online at: http://www.alternet.org/story/149817/
 

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Lies My Teacher Told Me
Lies My Teacher Told Me : Everything Your American History Textbook Got Wrong explains the history behind the history and reveals the truth about what happened in America.
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Born and raised in New York City, Felipe Luciano has done pioneering work in fields ranging from community activism to media. As founder and chairman of the Young Lords Party, Luciano’s commitment to community empowerment, ethnic pride, and civil rights was pivotal in changing the color of politics, culture, and society from New York to Puerto Rico. In addition to his community activism, Luciano is highly accomplished in television, radio, music, poetry, journalism and stage productions.
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