The hours after Sunday’s Super Bowl sent a ripple through the online publishing world as news leaked that the ink is dry on a deal between Arianna Huffington and AOL Inc. Huffington has sold her left-leaning Huffington Post blog/Internet newspaper to the struggling search giant for $315 million in cash.
The deal, which both parties announced Sunday evening, will move the co-founder of the HuffPost to the position of president and editor-in-chief of a new Huffington Post Media Group division at AOL, Reuters reports.
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, The Los Angeles Times adds. Additionally, AOL other news websites will now fall under Huffington’s control as well.
“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,” Huffington wrote in a blog posting announcing the merger Sunday evening.
“Far from changing our editorial approach, our culture, or our mission, this moment will be for HuffPost like stepping off a fast-moving train and onto a supersonic jet. We’re still traveling toward the same destination, with the same people at the wheel, and with the same goals, but we’re now going to get there much, much faster.”
The merger is expected to go into affect later this year.
The Huffington Post debuted in 2005 and has grown into one of the most visited news websites in the nation.
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