AOL Pays $315M to Acquire Huffington Post

AOL Inc. will buy news and entertainment site The Huffington Post for $315 million. As part of the deal, Arianna Huffington, the site's co-founder and editor-in-chief, will become president and editor-in-chief of The Huffington Post Media Group, which will include all of AOL's content, including the sites Engadget, TechCrunch, Moviefone, MapQuest, PopEater, AOL Music, and Patch. Launched in 2005, Huffington Post raised upwards of $37 million in venture capital financing from investors including Greycroft Partners, Softbank Capital and Oak Investment Partners.

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