February 8

February 8, (CP) – Online Inc. AOL is the company buys high-Huffington Post web traffic in one and 315 million, against U.S.

The acquisition, which will Huffington Post co-founder Arianna Huffington in charge of all content on AOL, AOL adds another 25 million unique visitors per month.

The deal “will create an American company’s next-generation media worldwide that combines content, community and social experiences for consumers,” said AOL chief executive Tim Armstrong in a statement announcing the deal Monday morning.

Founded in 2005, The Huffington Post is owned by Huffington, Kenneth Lerer and a group of other investors. AOL will pay $ 300 million U.S. and the purchase price in cash.

Huffington will be named president and editor in chief of The Huffington Post Media Group, including all the Huffington Post and AOL content, like Engadget, TechCrunch, MapQuest, patches and more.

Since the dismissal of a large number of staff last year, AOL has continued the reorganization of its operations. The company, which split from Time Warner in 2009, has acquired new businesses, launch and relaunch of web sites and set up a website advertising system.

AOL CEO Tim Armstrong said last week that he sees 2011 as a year “return” of the Internet company as it continues its efforts to respond and begin to expand its advertising business in the second half of the year.

Fourth quarter results show that the company is still struggling to increase sales of ads. AOL had only a 5.3 percent share of U.S. advertising revenue screen in 2010, up from 6.8 percent in 2009, according to eMarketer. At the same time, Facebook accounted for 13.6 percent of revenue last year indicating an increase of 7.3 percent in 2009.

Huffington Post grew rapidly from start to giant online and ranks as one of 10 current events and global news sites.

Over time, was set up specific pages of the city, and has developed a list of sections such as food and books. The work of paid staff of 70 people is compounded by the news media content and 6,000 bloggers who write for free.

The deal is expected to close in late first quarter or early second quarter, pending regulatory approvals.

© The Canadian Press, 2011

Source: http://www.cbc.ca/world/story/2011/02/07/aol-huffington-post.html

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