Posted on 02/06/2011 9:48:34 PM PST by Steelfish
AOL To Buy The Huffington Post
Nathan Olivarez-Giles February 6, 2011
Arianna Huffington is selling the Huffington Post to AOL Inc. for $315 million in cash.
The deal, which Huffington announced on her blog on the Huffington Post website and AOL announced in a news release, will move the co-founder of the news site to the position of president and editor in chief of a new Huffington Post Media Group division at AOL.
The purchase will increase AOL's news portfolio as it competes against Yahoo's growing online news publication profile and Google's news efforts, as well as traditional media companies online.
Get the monthly that has L.A. talking. Subscribe to Los Angeles Times Magazine at a special introductory rate.
Additional AOL news websites will fall under Huffington's control as well.
In a statement, AOL said it is buying the Huffington Post with about $300 million from on-hand cash. The purchase has yet to acquire government approvals, but the boards of directors of each company and shareholders of the Huffington Post have approved the transaction, AOL said.
(Excerpt) Read more at latimes.com ...
No wonder AOL is a shadow of its former self
For that much every AOL shareholder should get Ariana and benefits
Its still kicking... all the magazines are now online.
Its funny... ten years ago the buzzword was how TIME and AOL would seamlessly bridge the Internet and print worlds.
Big mistake. It remains to be seen whether this merger will be more profitable for AOL shareholders than the ill-fated venture with TIME-Warner was in the last decade.
WOW.
And just when I thought aol’s news articles couldn’t get any further to the left.
AOL has been going heavy into online news for some time.
They have been building a national network of local news websites called Patch.com.
AOL has been hiring hundreds of local newspaper journalists to staff Patch at substantially higher wages than local papers have been paying.
Will they still be called Huffies?
AOL...A-holes on line!
Don’t understand why major corporations continue to think that the major advantage is on the extreme left! Are they crazy or are the majority of Americans that dense?
Call it the death rattle of the old print media.
Who reads a newspaper when breaking developments happen literally around the clock.
In the 80s, the big papers had two editions, one morning and one evening.
Those days are now gone as well as their monopoly as the “gatekeeper” of what was and what wasn’t news.
AOL and Arianna deserve one another.
This just goes to prove that most oftentimes in this life the most inane, empty people profit the most. Huffington is the ultimate opportunist with zero core values.
that’s our a-o-hell
Drunks will buy ANYTHING.
you think Fox might buy FR?
that means this site is worth at least $75 - 150 million dollars.
FR is priceless.
Seriously, from a pure business standpoint WTF are they thinking?
A liberal looking for media to suit their needs has a gazillion choices while a Conservative has few. And more people define themselves as conservatives than liberals.
Being the Liberal market is over saturated and there a void in the Conservative market, from a pure business standpoint wouldn't it make more sense to target the conservative market?
AOL has been obsolete for years, why would anyone go to AOL to get the same news (and spin) they already get from the AP & Reuters just by opening Yahoo or Google?
Not to mention the people who still use AOL tend to be rural where they don't have fewer internet provider choices and rural people tend to be more Conservative
Stupid on so many levels
I wouldn’t want to see Free Republic sold to the highest bidder!
If Jim Rob is someone else’s President, they get executive control over what is allowed on this site.
There’s too much media concentration already! I give a big fat thumbs down to the notion!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.