AOL Buys Huffington Post for $315 Million
Sounds like a good fit – They’re both far left propaganda outlets.
AOL will buy the controversial far left Huffington Post for $315 million.
AOL Inc has agreed to buy The Huffington Post, the influential and rapidly growing news, analysis and lifestyle website, for $315 million, the struggling U.S. Internet company announced on Monday.
The move will create a media group that will have a combined base of 117 million visitors a month in the United States, and reach 270 million people globally, AOL said in a statement.
The deal follows efforts by AOL’s chief executive Tim Armstrong to turn around the dial-up Internet access business by trying to turn it into a media and entertainment powerhouse, despite difficulties in attracting investors.
AOL suffered sharp declines in advertising sales and dial-up subscriptions in the fourth quarter of 2010, driving overall revenue down 26 percent.
Arianna Huffington, co-founder of The Huffington Post, said on her blog that she would lead a newly formed The Huffington Post Media Group, which will integrate all Huffington Post and AOL content, as its president and editor-in-chief.