Late on Sunday there was a news that American news website and blog “The Huffing ton Post” would be taken over by AOL for agreed price U.S $ 315 million it is expected that the deal will be finalized in the first half of 2011.
AOL CEO Tim Armstrong in an interview with the NY TIMES on Sunday narrated the company’s motivation behind the acquisition.
“The reason AOL is acquiring The Huffington Post is because we are absolutely passionate, big believers in the future of the Internet, big believers in the future of content”
Huffington Post Co-Founder Arianna Huffington as a part of the deal will become President and editor-in-Chief of the Huffington Post Media Group within AOL, it seems that Arianna Huffington will be incharge of all of AOL content properties; she will also be incharge of gadget Blog Engadget and recent AOL acquisition Tech Crunch. About the arrival of their new boss AOL properties have been kept in dark.
On the Huffington Post Arriana Huffington she herself made her own announcement and details how the acquisition took place and the direction of the site moving as under.
“When Kenny Leer and I co-founded The Huffing ton Post in May 2005, we had high hopes. But even we would have been hard put to predict that less than six years later we would be able to announce a deal that now makes it possible for us to execute our vision at light speed. AOL is an online pioneer that engenders great trust among its 250 million global users. Huff Post is on the cutting edge of creating news that is social and brings with it a distinctive voice and a highly engaged audience. In this case, 1 + 1 = 11. Far from changing our editorial approach, our culture, or our mission, this moment will be, for HuffPost, like stepping off a fast-moving train and onto a supersonic jet. We’re still traveling toward the same destination, with the same people at the wheel, and with the same goals, but we’re now going to get there much, much faster”
AOL has acquired quite the big business for the amount they have paid, as the Huffing ton Post’s noted a very quick increase in traffic compare to last year. There was increase of 35% which was a combination with the amount of content produced over the same time. It was also especially considered that most of the Huffing ton Post’s writers don’t even get paid.
The way things are moving it is evident that AOL has vehement desire to be Community King. The Huffing ton Post dabbling in the politics with a liberal Sway, the deal may balk competitive siblings due to terms,
However, we can forecast AOL as a dominant Media Player in future. We wonder who will be acquired next.
