The popular news website, Huffington Post, has been sold to AOL for about $315 Million. Huffington Post is drawing around 117 million unique visitors monthly in United States alone and 270 million readers worldwide. It is co-founded by Arianna Huffington and launch last 2005.
AOL who also owns TechCrunch and Engadget among other site has reach the decision to buy Huffington Post and promise to be the next-generation American media company as per headed by Arianna Huffington as the editor-in-chief.
Huffington Post Media Group will also manage other AOL’s website like MapQuest, AOL Music, AutoBlog and Patch in addition to its popular technology site TechCrunch and Engadget.
“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,” Arianna Huffington said in a statement from his blog post during the acquisition.
The Huffington Post has began as a liberal blog with few staff and now reaching millions of visitors worldwide, AOL has the right decision to acquire Huffington Post in an effort to bring new revenue sources as its dial-up business declines due to the boom of broadband connection.
On the other hand, Eric Hippeau the CEO and Greg Coleman the Chief Revenue Officer will leave The Huffington Post.
[youtube]http://www.youtube.com/watch?v=xDcGWLZJUk4[/youtube]