AOL Buys The Huffington Post for $315M
February 7, 2011
The Huffington Post is now owned by AOL, but Arianna Huffington will still control content. What does the merger mean?
BY SAMANTHA MCCLENDON
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EXTRA EXTRA... read all about it!! AOL officially bought The Huffington Post for a whopping $315 million... 300 of those million will be paid in cold hard cash. MSNBC says AOL is struggling so... it’s probably about time.
NICOLE LAPIN: "A big surprise though I will say. AOL has been on this shopping spree guys. I was reading a commentary this morning that called it the last scene from Butch Cassidy and the Sun Dance Kid where AOL is trying to hang on surrounded by the Bolivian Army and has no choice but to make this move.”
Tech Buzz Blog says the price tag alone is impressive -- calling it the biggest blog acquisition ever.
“This also makes AOL the biggest blog content producer today – they now own Engadget, TechCrunch and HuffPo and many more — the big names in the blogosphere.”
Arianna Huffington, Huffington Post co-founder -- told the Wall Street Journal, AOL shares her vision.
ARIANNA HUFFINGTON: “This is my last act. Well I’ve had many incarnations ever since Athens, Greece, England, here, books, television and this is the most exciting thing I’ve ever done.”
AOL will make Huffington the editor in chief of The Huffington Post Media Group, which means she’ll control all of the editorial content for AOL. A writer for The Daily Beast says there is a difference between being the owner and being an employee.
“It's the difference between a mother and a babysitter. They both love their kid, but only one will race into a burning building to save it. Especially with a swollen bank account back home.”
The Huffington Post gets 500 million views a month, and some say this is a great opportunity for AOL to use that viewership for advertising. One writer for Talk Left says this could be good business for AOL.
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