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Online giant AOL Inc. will soon buy the popular news site Huffington Post with a price of USD315 million. Yahoo News reported on Monday (02/07/2011).
NEW YORK - The online giant AOL Inc. will soon buy the popular news site Huffington Post with a price of USD315 million. Yahoo News reported on Monday (02/07/2011).
This acquisition will place co-founder of the Huffington Post, Arianna Huffington, as the agency responsible for all AOL content. This step is expected to bring in an additional 25 million unique visitors to AOL every day.
"This agreement will create a new generation of American media company with broad exposure and combine content, community and social experience for consumers," said AOL chief executive Tim Armstrong.
Huffington would have served as president and editor-in-chief of the Huffington Post Media Group, which includes the entire contents of the Huffington Post and AOL, including Engadget, TechCrunch, MapQuest, Patches, and much more.
Since reducing most of its employees last year, AOL continues to re-organize their operations. Companies that split from Time-Warner 2009 and has purchased a number of new business, launching a variety of sites, and introducing a new web advertising system.
AOL is experiencing difficulty in selling ads. 2010, AOL had only 5.3 per cent share in display advertising revenue in the United States. This figure declined from the previous year, in which AOL has a share of 6.8 percent.
By sari, okezone.com, Updated: 2/7/2011 2:17 AM
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