Feeds

AOL buys Huffington Post

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

Top 5 reasons to deploy VMware with Tegile

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.