Monday, February 7, 2011

AOL lays hands on the Huffington Post

AOL inc. announced the acquisition of the website The Huffington Post for U.S. $ 315 million, while the spinoff of Time Warner increased its investment in online content to boost its advertising revenue growth.The offer includes about U.S. $ 300 million in cash and the transaction should be completed by the end of first quarter or early in the second quarter, AOL said in a statement. The co-founder of the Huffington Post, Arianna Huffington, will become president and editor of Huffington Post Media Group.

The agreement follows the acquisition by AOL of the blog TechCrunch and 5Min Media last year as the company invests in information sites and specialty produce original video content to generate more traffic to its sites and attract advertising revenues.

The number of unique visitors to the site Huffington Post, which gathers content from many sources in addition to creating its own items, increased to approximately 25 million unique visitors since its inception in 2005.

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