AOL Buys The Huffington Post For $315 Million In Cash

February 7, 2011

12:02 am

From the Super Bowl, AOL CEO Tim Armstrong, along side Huffington Post co-founder and CEO Adriana Huffington, just announced that AOL has acquired Huffington Post for $315 million in cash, according to All Things D.

In her blog post tonight, Huffington noted that her New Year’s resolution for 2011 was to “take HuffPost to the next level — not just incrementally, but exponentially.” She also wrote,

Things moved very quickly. A term sheet was produced, due diligence began, and on Super Bowl Sunday the deal was signed. … By combining HuffPost with AOL’s network of sites, thriving video initiative, local focus, and international reach, we know we’ll be creating a company that can have an enormous impact, reaching a global audience on every imaginable platform.

Armstrong will move AOL content, such as TechCrunch, Engadget, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Moviefone, Patch, StyleList, and others under the newly formed Huffington Post Media Group, with Huffington presiding as president and editor-in-chief.

Watch the video as Kara Swisher interviews them both in Dallas at the Super Bowl.

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Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups.

Find Frank Gruber online and follow him on Twitter at @FrankGruber.

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