AOL has obtained Huffington place for $315 million in its major move since it turned into an independent business in 2009.
The achievement will generate a new online media corporation that previously owns news websites TechCrunch and Engadget. According to The New York Times, the contract is appeal $300 million in cash with $15 million in reserve.
As part of the contract Huffington Post co-founder Arianna Huffington will be selected leader editor-in-chief of all of AOL’s comfortable. She will not simply run The Huffington Post, but will lead AOL’s news, tech, women, local, multicultural, distraction video and the public contented businesses in an AOL article that will be identified as the Huffington Post Media crowd.
The Huffington Post Media crowd will as well in accusation of MapQuest, AOL tune, Auto Blog, scrap, Engadgetand TechCrunch. Huffington Post CEO Eric Hippeau and Chief income Officer Greg Coleman will be leaving Huffington place, according to AllThingsD.
“By joining HuffPost with AOL’s system of sites, thriving tape initiative, local focus, and global reach, we know we’ll be making a company that can have an huge collision, reaching a global viewers on every possible platform,” Arianna Huffington said moments ago in a blog post announcing the gaining.
AOL now argues that the combined individual reaches 117 million distinctive visitors per month in the U.S. and 270 million universal. AOL CEO Tim Armstrong says the new group will be “a next-generation American media business” alert on content, group of people and social skills.
Resource:http://mashable.com/2011/02/07/breaking-aol-acquires-huffington-post-for-315-million/
