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AOL to acquire Huffington Post in $315 million deal

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New York—AOL Inc. has agreed to acquire the Huffington Post, the news site co-founded in 2005 by Arianna Huffington. AOL is paying $315 million for the Huffington Post, with $300 million in cash and the rest in stock.

AOL hopes the combination of its infrastructure and scale will combine with the Huffington Post's news to deliver international, national and local news across a nuimber of digital formats. Huffington will become the president-editor in chief of the Huffington Post Media Group, which will combine Huffington Post and AOL content.

“The acquisition of the Huffington Post will create a next-generation American media company with global reach that combines content, community and social experiences for consumers,” Tim Armstrong, AOL chairman-CEO, said in a statement.

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