NEW YORK — Online company AOL Inc. says it is buying highly trafficked news website Huffington Post for $315 million in a deal that will put co-founder Arianna Huffington in charge of all AOL content.
Founded in 2005, Huffington Post now claims 25 million unique visitors a day. It is owned by Arianna Huffington, Kenneth Lerer and a group of other investors.
AOL will pay $300 million of the purchase price in cash.
Huffington will be named president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL content, including Engadget, TechCrunch, MapQuest, Patch and more.
