AOL buys Huffington Post for $315 million. AOL Inc. announced late Sunday that it would buy the Huffington Post, the well-known news and opinion site. This is the AOL’s biggest move since it became an independent company in 2009.

The deal is worth $300 million in cash with $15 million in stock as per The Newyork Times. Huffington Post co-founder Arianna Huffington will oversee a new group responsible for bringing together all editorial content from both companies including news, technology, music and local media websites. The new group will be known as the Huffington Post Media Group.

The Huffington Post Media Group will also be in charge of MapQuest, AOL Music, AutoBlog, Patch, Engadget and TechCrunch. Arianna Huffington posted the announcement of acquisition in her blog saying “By combining HuffPost with AOL’s network of sites, thriving video initiative, local focus, and international reach, we know we’ll be creating a company More >

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