You’ve Got Merger: AOL Buys Huffington Post
Posted on Feb 7, 2011
Arianna Huffington’s namesake media empire is now the property of content-hungry AOL. For $315 million, AOL gets Huffpo’s 25 million monthly unique visitors along with all the ads and blog items they can digest. Huffington will stay on to use her savvy and Grecian know-how to wrestle some sense into the parent company. After all, it’s pretty clear who had this Internet game figured out and who had $315 million.
Huffington put it this way on her site: “Far from changing our editorial approach, our culture, or our mission, this moment will be for HuffPost like stepping off a fast-moving train and onto a supersonic jet. We’re still traveling toward the same destination, with the same people at the wheel, and with the same goals, but we’re now going to get there much, much faster.”
Los Angeles Times:
As part of the deal, Huffington Post co-founder Arianna Huffington will oversee a new group responsible for bringing together all editorial content from both companies including news, technology, music and local media websites.
The deal, which was signed Sunday with approval from the boards of both companies, is something of a gamble for AOL, which is looking to reignite growth in advertising revenue.