AOL acquires Huffington Post for cool $315 million

AOL has today announced it will acquire the rapidly expanding online United States news, analysis, and lifestyle website giant Huffington Post for $315 million.

As part of the deal to acquire the Huffington Post, co-founder of the news site, Arianna Huffington, will be promoted to become president and editor-in-chief of a new subsidiary to be created by AOL, The Huffington Post Media Group.

The Huffington Post Media Group -- which Arianna will lead -- will bring most of AOL's content sites including Engadget and TechCrunch under the Huffington banner. Other sites to be bought under the one umbrella include Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch and StyleList.

Tim Armstrong, Chairman and CEO of AOL, describes the deal as being the key to providing the "next-generation American" online experience and says the "global reach" will make for new "content, community, and social experiences."

"Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers," Armstrong said today in a statement.

Huffington says the deal is "full of visions", saying it's a "perfect fit for us. By uniting AOL and The Huffington Post, we are creating one of the largest destinations for smart content and community on the Internet. And we intend to keep making it better and better."

Huffington Post's founders and investors will share $315 million -- of which $300 million will be financed in cash -- with the company not publicly listed and remaining private. While both company's boards have signed off on the deal, AOL says it remains "subject to customary closing conditions, including receipt of government approvals".

The acquisition of Huffington Post follows that of TechCrunch, which was acquired by AOL late last year for at least $25 million as the company seeks to grow and expand their online content presence.

Huffington Post acquired by AOL

Image Credit: Huffington Post

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36 Comments

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DATmafia said,
Who knew a crappy blog filled garbage was worth $3.15 let along 315Mil.

Yah...that's alot for a blog riddled with ads too...kinda reminds me of myspace sometimes....

A better owner for huffington post would've been the media group for Oxygen TV or Lifetime TV...lol it's generally thought that the Huffpost is geared towards women mainly...

I think there is a bigger picture to look at here and in my opinion it is quite scary. This is something I saw coming when Comcast decided to buy NBC. This has nothing to do with whether or not you lean left/right/center but how content is being delivered now within the US. These huge media conglomerates own news outlets now and can control how news/events/media are delivered to the people in the US. Just think about it: News Corp. owns Fox News and all of its channels/websites/social media outlets, Time Warner owns CNN/AOL with all of its social media outlets and now Huffington Post, Comcast owns NBC and all of its media, Disney own ABC, etc...

How does one determine anymore what is actual real news/events/media and what is just being shown for the benefit of the content owner?

I don't get how AOL (who is supposed to be family friendly), can (mal)align itself with the vitriol spitting Huffington Post. Haters gotta hate...

naap51stang said,
As long as the Huffington Post doesn't flood my snail mail box with CD's, I could care less

gawd, when was the last time AOL sent out CD's? like 10 years ago?

Engadget under Huffpost label? I mean is it not enough having one Apple (kind of)fanboy site? why combine two into making one? In any case Huffpost's technology coverage is abysmal, dunno why labeling engadget with their name makes sense.

Good for Aol. I have enjoyed their newer content offerings in the last few years, despite the silly cat calls many here and elsewhere dish out about the old Aol. They've come a long way and have become a daily read.

I stopped reading TechCrunch a long time ago when Arrington started making a real ass of himself. Now it looks like I won't be reading engadget anymore either if Arianna Huffington is going to be in charge of it.

Arianna is full of hypocrisy and a republican in disguise. Why bother reading that site when there is no shortage of liberal blogs out there.

Ok, now I'm starting to think AOL is really making a comeback. I mean TechCrunch and HuffPo? Those are widely read blogs. Damn, don't even know what to say.

Benjy91 said,
I wasn't even aware AOL had money left?

My thoughts exactly. Where in hell these people get so much money?

Unix2 said,

My thoughts exactly. Where in hell these people get so much money?

I read somewhere that most of their revenue comes from Dial-Up accounts in the US.

Karamazov said,

I read somewhere that most of their revenue comes from Dial-Up accounts in the US.


So that's why those accounts still cost so much...

Karamazov said,

I read somewhere that most of their revenue comes from Dial-Up accounts in the US.

I haven't met anyone who still uses AOL for dial-up. I mean, before I joined the military I lived on a lake and the only thing you can get is 28k or satellite internet. I don't know if that changed or not. But I do know AOL if free if you have high speed internet.

Dinggus said,

I haven't met anyone who still uses AOL for dial-up.

Lol, chances are they're still collecting from people who have since moved onto to broadband. My rents still continued to pay for dial up for almost a year after we dumped it.... I didn't find out until my Mom called me to ask me how to change credit card numbers.

Frylock86 said,

Lol, chances are they're still collecting from people who have since moved onto to broadband. My rents still continued to pay for dial up for almost a year after we dumped it.... I didn't find out until my Mom called me to ask me how to change credit card numbers.

Yes, this is exactly the story I read. I think I saw on Reddit a few months back. Basically, many customers who have moved on to AOL's broadband service over the years are still paying for their old dial up accounts too.

amon91 said,
Oh well, MSNBC and HuffPost have been bought, the liberal media is dying.

All television news media is dying. Honestly, I haven't watched any of the big three so-called news stations in over two weeks. I think most get that CNN, MSNBC and Fox News is little more than entertainment and opinion columns. From my perspective, Fox News has simply managed to hold onto an older generation of viewers. As for MSNBC, the last I heard they were a poor second to Fox News in prime time television, though I wouldn't know. I haven't watched any of these three channels in well over two weeks, which is about how often I tune in.

TV news in general is for people who want to be told what their opinions should be from personalities they've decided to love. The presentation of actual content is disappointing, too often outdated (the internet news cycle can often be as much as 48 hours ahead of TV coverage), over-spun, and under-developed. Personalities do little more than regurgitate headlines before immediately launching into opinions and 'question-based' reporting ("Obama a Kenyan?", "Is Google Watching You Pee?", "Are Teachers Gaying Your Children?"). These channels also revolve around the concept of new-viewers-every-minute, because people are constantly turning on TVs and channel surfing and just now tuning in. So things are said. And repeated. And repeated. And put on tickers. And repeated. And repeated.

Anyone online can know more about every possible angle of a story in less time than it takes for half of a cable news regurgitation, and you can access more objective information in less time than it takes for an anchor to consult his 'round table' of 'balanced opinions'.

Probably the worst thing that happened to cable news was the 'balanced' crap, which basically made people think it's somehow a good thing to hear *opinions* from both sides than the one and only set of actual *facts* that don't give a crap what people think.

Davo said,
I wasn't even aware that a lot of these sites belonged to them.

Yeah, I didn't know AOL had Engadget, Moviefone, OR TechCrunch... lol Who knew...

M_Lyons10 said,

Yeah, I didn't know AOL had Engadget, Moviefone, OR TechCrunch... lol Who knew...

It only says Aol at the top when you visit these sites.

M_Lyons10 said,
Yeah, I didn't know AOL had Engadget, Moviefone, OR TechCrunch... lol Who knew...

TechCrunch was recent mind you, Engadget has been a while.