AOL buys Huffington Post for 315 million dollarsBy ANI
Monday, February 7, 2011
NEW YORK - New York-based AOL is reportedly buying the Huffington Post for 315 million dollars.
The Huffington Post is a progressive American news website and content aggregating blog founded by Arianna Huffington, Kenneth Lerer, and Jonah Peretti, featuring various news sources and columnists.
The site offers coverage of politics, media, business, entertainment, living, style, the green movement, world news, and comedy, and has news, blogs, and original content.
The move represents a vote of confidence by AOL CEO Tim Armstrong in Huffington’s brand of news aggregation supported by original reporting, wired.com reports.
AOL will reportedly pay 300 million dollars in cash, and the rest in stock.
The Huffington Post was launched on May 9, 2005, as a commentary outlet and alternative to news websites like the Drudge Report. (ANI)