AOL Acquired Huffington Post for $315 Million in Cash and Stock

AOL bought the Huffington Post over the weekend for $315 million dollars, mostly in cash, to buy the Huffington Post, one of the Web's most prominent news and opinion sites.As part of the deal, Huffington Post Co-founder Arianna Huffington will become president and editor-in-chief of the Huffington Post Media Group within AOL, which will also […]

AOL bought the Huffington Post over the weekend for $315 million dollars, mostly in cash, to buy the Huffington Post, one of the Web's most prominent news and opinion sites.

As part of the deal, Huffington Post Co-founder Arianna Huffington will become president and editor-in-chief of the Huffington Post Media Group within AOL, which will also include other AOL properties Engadget, Moviefone, MapQuest and TechCrunch.

Huffington said "content for all these sites will be integrated deeply into the Huffington Post, giving it a huge new infusion of editorial material," to Kara Swisher, of All Things D.

AOL CEO Tim Armstrong detailing the acquisition to employees. It included:

"The Huffington Post is core to our strategy and our 80:80:80 focus - 80% of domestic spending is done by women, 80% of commerce happens locally and 80% of considered purchases are driven by influencers. The influencer part of the strategy is important and will be potent."

He did note the increase in numbers the buy would bring to AOL. "Together, AOL and The Huffington Post will have 117MM unduplicated domestic monthly UVs, and ~270MM monthly UVs worldwide (according to comScore Dec 2010), the memo stated.

Here's the full memo:

[tags]huffington post,arianna huffington[/tags]

[Source]