Feeds

AOL buys Huffington Post

1 + 1 = 11 ... err, yes ...

High performance access to file storage

AOL is paying £190m for the Huffington Post – the ragbag collection of once Democrat-leaning blogs founded in 2005.

The announcement – modestly titled "A Brand New Media Universe", with the strap line "A Merger of Visions" – was signed at the SuperBowl yesterday.

The deal makes HuffPo boss Arianna Huffington president and editor in chief of AOL's online properties – including TechCrunch and Engadget.

Huffington used a blog post to describe the deal as "1+1=11". She said: "this moment will be for HuffPost like stepping off a fast-moving train and onto a supersonic jet." There's more of Huffington's thoughts on the AOL buy here.

The deal gives the combined companies an audience of 117 million visitors a month in the US and 270 million around the world, using numbers from ComScore.

AOL will pay $315m, $300m of that in cash. The collection of blogs was founded in 2005 by Huffington and Kenneth Lerer. It started life as a Democrat-leaning collection of blogs, aimed to counter the likes of the Drudge Report, before becoming more of a celebrity news hub.

The Huffington Post contributes 25 million monthly visitors.

AOL has been trying to reinvent itself as more than a rag bag collection of web properties and the ashes of an ISP business since its disastrous merger with Time Warner.

The $186bn mega-merger has never really shown any benefit to anyone. With this deal AOL's boss Tim Armstrong will hope to show the world that his company has a real idea of what it wants to be.

The two sides aim to close the deal towards the end of the first quarter or the start of the second. HuffPo management and investors have already approved it. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.