AOL Acquires The Huffington Post, Names Arianna Huffington Editor-In-Chief Of The Huffington Post Media Group
Wow, just wow. AOL has announced that it intends to acquire The Huffington Post, a news, analysis and lifestyle website that was founded in 2005. Today, The Huffington Post receives nearly 25 million unique visitors a month. Most of you will remember that a few months ago, AOL also acquired TechCrunch. To be honest, I don’t understand AOL strategy right now, it seems as if they are just acquiring different properties in an effort to find a combination that works. As a company, AOL needs to decide who they are and then streamline their properties to align under that. Honestly, as long as Ms. Huffington doesn’t try to put their “brand” of reporting on sites like Engadget and TechCrunch who’s unique viewpoints are what make them so well loved, then this shouldn’t be a big deal.
The new group will have a combined base of 117 million unique visitors a month in the United States and 270 million around the world. 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 The Huffington Post Media Group, which will integrate all Huffington Post and AOL content, including Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList, and more.
AOL has agreed to purchase The Huffington Post for $315 million, approximately $300 million of which will be paid in cash funded from cash on hand. The transaction is expected to close in the late first- or early second-quarter 2011.