|AOL to acquire Huffington Post for $315 million|
|Written by Mridula Velagapudi|
|Thursday, 12 August 2010 20:06|
On February 7, 2011 AOL announced that it has agreed to purchase Huffington Post, which is a rapidly growing news website, founded in 2005 and which receives nearly 25 million unique visitors every month.
The deal is worth $315 million of which $300 million will be paid by cash.
Huffington Post, which is a very progressive digital publication, has used some of the most innovative ways to establish and engage an influential audience from across the globe. They have actively harped on quality journalism and the positives of online community experience. In a press release AOL points out that the acquisition will be strategically beneficial to bolster its aim of creating a Premier Content Network locally, nationally and internationally. The release also highlights that after the integration, AOL will have a reach of 170 million in the US alone and 270 million internationally.
Calling the acquisition as the seminal evolution in the digital era of journalism and online engagement, AOL wants to position itself to redefine the Marketing and Brand Advertising for an influential and sophisticated audience by buying Huffington Post. AOL’s infrastructure and scale combined with the innovative community building among sophisticated audience, will help AOL in disseminating premium news, analysis and entertainment contributed by many writers, bloggers, reporters and photographers from around the world. Tim Armstrong, Chairman and CEO of AOL, feels that together the companies will become a digital destination for content and community with unmatched social experiences. She feels that by combining Huffington Post with AOL, they can focus on their consumers and provide unparalleled sophisticated online experience on social, local, video and mobile platforms.