AOL has acquired Huffington Post for $315 million dollars. Arianna Huffington will be appointed editor-in-chief of all of AOL’s content. The acquisition will create a new online media giant, since the company already owns some of the biggest online publications on the web, including TechCrunch and Engadget.
The New York Times reports the deal between AOL and Huffington Post is worth between $300 million in cash with $15 million in stock.Mashable reports that Huffington Post co-founder “Arianna Huffington will be appointed editor-in-chief of all of AOL’s content. She will not only run The Huffington Post, but will lead AOL’s news, tech, women, local, multicultural, entertainment video and community content businesses in an AOL entity that will be known as the Huffington Post Media Group.”
Arianna Huffington made a statement to the media just moments ago, saying “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.”