The Huffington Post, which began in 2005 with a meager $1 million investment and has grown into one of the most heavily visited news Web sites in the country, is being acquired by AOL in a deal that creates an unlikely pairing of two online media giants.
The two companies completed the sale Sunday evening and announced the deal just after midnight on Monday. AOL will pay $315 million, $300 million of it in cash and the rest in stock. It will be the company’s largest acquisition since it was separated from Time Warner in 2009.
So long, and thanks for all the money! Serf’s up!
William Jacobson notes the irony as well.
(One side note. Remember AOL-Time Warner? How’d that turn out? How about News Corp – MySpace?)