Business & Tech
Patch Parent AOL to Acquire The Huffington Post
The $315 million acquisition will solidify AOL's strategy of creating a premier content network with local, national and international reach.
AOL, the parent company of Patch, announced an agreement to acquire The Huffington Post, the news, commentary and lifestyle Web site founded in 2005, and one of the fastest-growing web properties on the Internet.
AOL is acquiring The Huffington Post for $315 million.
As part of the transaction, Arianna Huffington, The Huffington Post's co-founder and editor-in-chief, will be named president and editor-in-chief of a new group within AOL, The Huffington Post Media Group.
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"Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers,"said Tim Armstrong, Chairman and CEO of AOL in a statement, today.
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* View the full press release about the acquisition here.
* In Arianna Huffington's own words: "When HuffPost Met AOL: 'A Merger of Visions'"
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