AOL To Buy Huffington Post For $315 million

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“The Huffington Post has already been growing at a prodigious rate. But my New Year’s
resolution for 2011 was to take HuffPost to the next level — not just incrementally,
but exponentially,” Arianna Huffington wrote of the deal.

Online company AOL Inc. is buying online news hub Huffington Post in a $315 million deal that represents a bold bet on the future of online news.

The deal announced early Monday puts a high-profile exclamation point on a series of acquisitions and strategic moves engineered by AOL CEO Tim Armstrong in an effort to reshape a struggling Internet icon. AOL was once the king of dial-up online access known for its ubiquitous CD-ROMs and “You’ve got mail” greeting in its inboxes.

Perhaps just as important as picking up a news site that ranks as one of the top 10 current events and global news destinations, AOL will be adding Huffington Post co-founder and media star Arianna Huffington to its management team as part of the deal…

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