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AOL Buys Huff Post For $315 Million
February 7, 2011 -
They are touting it on the HuffPo website as a brand new Media Universe.
Huffington Post founder Arianna Huffington, who made the announcement on her site Sunday night, will become president and editor in chief the Huffington Post Media Group, which will put the news outlet she co-founded under the same ownership as AOL's collection of sites. The companies said Sunday that about $300 million of the sale price will be in cash, with the balance in AOL stock - a spectacular return for Huffington Post, which was founded on a $1 million investment less than six years ago. It is privately owned by its two co-founders, as well as a group of investors.
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