AOL to Acquire Huffington Post

By Cindy Waxer February 07, 2011

For once, the Huffington Post’s lead story didn’t include Sarah Palin jabs or celebrity gossip. Rather, on Feb. 7, the wildly popular online news site’s breaking story was about its very own acquisition by AOL.

AOL has agreed to purchase the Huffington Post for $315 million, approximately $300 million of which will be paid in cash funded from cash on hand. HuffPo, as it’s affectionately known, is privately owned by its two co-founders, as well as a group of investors. The transaction is expected to close in the late first- or early second-quarter 2011.

Together, the new online enterprise will have a combined base of 117 million unique visitors a month in the United States and 270 million around the world. 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 include all Huffington Post and AOL content, including Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList, and more.

“By combining HuffPost with AOL's network of sites, thriving video initiative, local focus, and international reach, we know we'll be creating a company that can have an enormous impact, reaching a global audience on every imaginable platform,” wrote Huffington in a blog posting entitled, ‘When HuffPost Met AOL: A Merger of Visions.’

"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, in a statement. "Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers."




Edited by Tammy Wolf

TechZone360 Contributing Editor

SHARE THIS ARTICLE
Related Articles

6 Challenges of 5G, and the 9 Pillars of Assurance Strategy

By: Special Guest    9/17/2018

To make 5G possible, everything will change. The 5G network will involve new antennas and chipsets, new architectures, new KPIs, new vendors, cloud di…

Read More

Putting the Flow into Workflow, Paessler and Briefery Help Businesses Operate Better

By: Cynthia S. Artin    9/14/2018

The digital transformation of business is generating a lot of value, through more automation, more intelligence, and ultimately more efficiency.

Read More

From Mainframe to Open Frameworks, Linux Foundation Fuels Up with Rocket Software

By: Special Guest    9/6/2018

Last week, at the Open Source Summit, hosted by The Linux Foundation, the Open Mainframe Project gave birth to Zowe, introduced a new open source soft…

Read More

Unified Office Takes a Trip to the Dentist Office

By: Cynthia S. Artin    9/6/2018

Not many of us love going to see the dentist, and one company working across unified voice, productivity and even IoT systems is out to make the exper…

Read More

AIOps Outfit Moogsoft Launches Observe

By: Paula Bernier    8/30/2018

Moogsoft Observe advances the capabilities of AIOps to help IT teams better manage their services and applications in the face of a massive proliferat…

Read More