AOL to buy Huffington Post in $315m media merger

US internet firm AOL has agreed to a buyout of the Huffington Post online newspaper.

The $315m (£222m) deal will create an internet media group with 270 million users, including 117 million in the US.

The purchase price – $300m of which will be in cash – will be paid to co-founders Arianna Huffington and Kenneth Lerer and a few minority shareholders.

Ms Huffington – currently editor of her namesake news service – will head the combined firm’s content division.

This means she will take on responsibility for AOL sites such as Engadget and Techcrunch, as well as retaining her current role at the intellectual centre-left website she helped set up in 2005.

Read the full story at BBC News

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