AOL has bought The Huffington Post for $315 million, with $300 million to be paid in cash and $15 million in stock. Tim Armstrong, CEO of AOL, says that the merger “combines content, community, and social experiences for consumers.” The new relationship should bring positive changes for both companies since The Huffington Post is known for its content and social media, and AOL has the necessary resources and networks to disseminate the news globally across several digital platforms.
The Huffington Post co-founder, Arianna Huffington, will be AOL’s new president editor-in-chief of all content and will take charge of AOL’s news, tech, women, local, multicultural, entertainment video and community content businesses. The new group will be known as the Huffington Post Media Group and is projected to reach 117 million Americans and 270 million people internationally.
According to a press release from AOL and The Huffington Post, this group is “uniquely positioned to redefine the future of brand advertising and marketing for an engaged and influential audience.” Together, these two companies will provide premium online content and be a new force in digital journalism and online community building.
AOL Agrees to Acquire The Huffington Post (The Huffington Post)
AOL Acquires Huffington Post for $315 Million (Mashable)
AOL Buys Huffington Post: Is It Crazy? (The Wall Street Journal)
–compiled by Katie Ostrowka