AOL Inc. lost $315 million in value since purchasing far left website Huffington Post… for $315 million.
The New York Post reported
You pay for what you get.
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Arianna Huffington and Ken Lerer, co-founders of the Huffington Post, are said to be walking away with a combined $80 million to $100 million from an original $2 million per person investment — but so far AOL stockholders aren’t seeing that kind of return.
Since Feb. 1, the price of AOL shares has dropped from $23.85 to $20.89 at yesterday’s close.
With 106.7 million shares outstanding, that means AOL has shed $315 million in value over the last five trading days — which happens to be exactly the same price AOL agreed to pay to acquire HuffPo.