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AOL in USD315m deal to buy HuffPost
[February 07, 2011]

AOL in USD315m deal to buy HuffPost


Feb 07, 2011 (CORPORATE IT UPDATE via COMTEX) -- 7 February 2011 -- US Internet firm AOL (NYSE:AOL) has decided to seal a USD315m (EUR231m) deal to acquire the Huffington Post news website, the Financial Times reported.

The move was unveiled late last night and is the biggest step on AOL's way to claiming a serious presence in advertising-backed online content.

The deal terms envisage Arianna Huffington, the political pundit who started the venture and now holds a hefty stake in the left-leaning news outfit, heading a new AOL unit that would integrate all content from AOL and Huffington Post.

The US Internet company has been creating a network of specialised websites, but this is its biggest acquisition yet, with prospects being for it to allow it to reach the Internet's biggest audience for a news site.

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