but this is interesting news
Betting on News, AOL Is Buying The Huffington Post
Betting on News, AOL Is Buying The Huffington Post
By JEREMY W. PETERS and VERNE G. KOPYTOFF
The Huffington Post, which began in 2005 with a meager $1 million investment and has grown into one of the most heavily visited news Web sites in the country, is being acquired by AOL in a deal that creates an unlikely pairing of two online media giants.
The two companies completed the sale Sunday evening and were expected to announce the deal Monday morning. AOL will pay $315 million, $300 million of it in cash and the rest in stock. It will be the company’s largest acquisition since it was separated from Time Warner in 2009.
The deal will allow AOL to greatly expand its news gathering and original content creation, areas that its chief executive, Tim Armstrong, views as vital to reversing a decade-long decline...........
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