Wow. AOL, after having acquired TechCrunch, has continued their purchasing war-path and bought up Huffington Post for $315 million.
AOL has agreed to purchase The Huffington Post for $315 million, approximately $300 million of which will be paid in cash funded from cash on hand. The Huffington Post is privately owned by its two cofounders, as well as a group of investors.
The proposed transaction is subject to customary closing conditions, including receipt of government approvals. The boards of directors of each company and shareholders of The Huffington Post have approved the transaction. The transaction is expected to close in the late first- or early second-quarter 2011.
Now I’m just waiting for AOL to call us here and ask for a buyout. I’d settle for half of that purchase price.
Blogs, even the much smaller ones, still have it going strong!
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