AOL to buy The Huffington Post worth $315 million

By on Feb 7, 2011 in Business, United States Comments

AOL Inc. have agreed to buy The Huffington Post worth $315 million, in which the two media sites when combined will reach 117 million monthly visitors from the United States, and 270 million people worldwide, as announced by both news companies on Monday.

AOL to buy The Huffington Post
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According to the press release posted at Huffington Post, AOL entered into a definitive agreement to buy Huffington Post for $315 million, an influential and rapidly growing news website founded in 2005 that also features analysis and lifestyle trend, with Arianna Huffington as co-founder and editor-in-chief.

Huffington Post, which was said to have about 25 million unique visitors monthly, will be paid about $300 million in cold cash that has already been approved by both parties.

The said deal, which was signed on Sunday, is being expected to be closed in the late first, or early second quarter of 2011, and will be integrating all contents of AOL and The Huffington Post.

“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,” AOL CEO and Chairman Tim Armstrong said.

“Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers,” Mr. Armstrong added.

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