This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AOL to Buy Huffington Post for $315M

Updated from 4:43 a.m EST

NEW YORK ( TheStreet) -- AOL (AOL) said Monday it agreed to acquire Web site The Huffington Post for $315 million.

As part of the deal, Arianna Huffington, The Huffington Post's co-founder and editor-in-chief, will be named president and editor-in-chief of The Huffington Post Media Group, which will integrate all Huffington Post and AOL content.

AOL said about $300 million of the transaction price will be funded from cash on hand.

The boards of both companies have approved the transaction, as have The Huffington Post's shareholders. The transaction is expected to close in the late first quarter or early second quarter.

The price that AOL is paying is "really just the hiring fee to get Arianna," technology analyst Rob Enderle told the Associated Press. "This is one of those out-of-left-field moves that actually makes a lot of sense. This could put AOL back on the map."

The new group will have a combined base of 117 million unique visitors a month in the United States and 270 million around the world, according to a press release from the two companies.

The Huffington Post is a top 10 Web site for current events and global news.

Arianna Huffington and AOL CEO Tim Armstrong reportedly signed the deal during the Super Bowl Sunday in Dallas.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.
Copyright 2011 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AOL $49.99 0.06%
AAPL $121.30 0.00%
FB $94.01 0.00%
GOOG $625.61 0.00%
TSLA $266.15 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs