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AOL Closes $315 Million Huffington Post Acquisition

March 7th, 2011 03:14 admin Leave a comment Go to comments

Well that was fast. AOL has closed its $315 million acquisition of The Huffington Post. The deal was originally announced on February 6, so it’s taken a month for the acquisition to close.

As we heard a few weeks ago, Arianna Huffington is now the President and Editor In Chief of all of AOL’s media properties, including TechCrunch, which is now called the Huffington Post Media Group.

AOL says the the combined entity will have a user base of 117 million unique visitors a month in the United States and 253 million around the world, according to comScore. For AOL CEO Tim Armstrong, The HuffPo acquisition is his largest deal to date.

With the acquisition, AOL is buying into the new publishing model that the Huffington Post represents. Armstrong has said that the the driving factors behind the deal is how well the Huffington Post fits into the content platform he is trying to build, particularly around women, influencers, and local (his 80-80-80 strategy).

Tim and Arianna have been on a roadshow of sorts, explaining the new content strategy to the public. As we know, there will be layoffs, Hollywood, and more.

Disclosure: AOL owns TechCrunch.

Source: AOL Closes $315 Million Huffington Post Acquisition

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