Check, Please: Huffington Post Sold to AOL for $315m


arianna

The Huffington Post, the ground-breaking online news and opinion site founded by Arianna Huffington on a shoestring budget, is to be bought for $315m by AOL in a move sure to stun new media sceptics and believers alike.

Huffington and Tim Armstrong, the chairman and chief executive of AOL, have dubbed the takeover an equation of “1+1 equals 11”, but others with longer memories of AOL’s previous struggles – including its founder, Steve Case – were less enthusiastic when the news first broke late on Sunday in the US.

With the sale of the website that only began life in 2005 for $300m in cash and $15m in shares, the creation of a new media giant will send shockwaves through established news groups still struggling to understand the uncharted territory of online news.

In a statement released on Sunday night, AOL claimed that the new operation will have a combined base of 117m unique visitors a month in the US and 270m around the world.

http://commondreams.org/news/2011/02/07/check-please-huffington-post-sold-aol-315m

Author: allthenews

Fight For Your Freedom Of Speech. Fight For Your 2nd Amendment. Fight For Your Rights. No More Political Correctness

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