Sunday, February 06, 2011

AOL to buy Huffington Post

AOL announced that it is acquiring The Huffington Post for a little over $300 million. According to AOL, the boards of directors of each company and shareholders of the Huffington Post have approved the transaction. However, it will take government approval to seal the deal.

The New York Times reported:

Arianna Huffington, the cable talk show pundit, author and doyenne of the political left, will take control of all of AOL’s editorial content as president and editor in chief of a newly created Huffington Post Media Group. The arrangement will give her oversight not only of AOL’s national, local and financial news operations, but also of the company’s other media enterprises like MapQuest and Moviefone.

Huffington also announced the merger on her site. The Huffington Post began as a liberal blog with a small staff in 2005 but now draws some 25 million visitors every month.

4 comments:

Shirazi said...

Good for AOL. HP has more visibility and reach I think.

Deb Sistrunk said...

Shi: These are definitely exciting times for The Huffington Post. We can only imagine how much HP's millions of readers will generate in advertising dollars.

Andre said...

Geez. When will some major media empire try to buy The Unmitigated Word? Sheesh.

Deb Sistrunk said...

@Andre: Your time is coming soon. :-)