14 DAY TRIAL // In a move largely praised even by AOL critics, the internet giant has acquired the Huffington Post for $315 million. The deal is straight up AOL's alley, the company has been expanding aggressively into content and has a clear strategy in this area. While it hasn't managed to pull it off to its full potential yet, AOL's vision is becoming more cohesive with the latest acquisition.
Huffington Post cofounder Arianna Huffington will become AOL's editor-in-chief and will manage all of the company's content generation properties.
"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, CEO of AOL, said.
AOL has been on a shopping spree lately. It's been buying blogs and media companies to bolster its existing line up. In recent months it has bought TechCrunch, one of the largest tech blogs out there, but also online video company 5 Minute Media and other companies.
The goal is to become one of the biggest online media companies and AOL is better positioned now than ever. It already owns tens of blogs and has been ramping up video creation.
It's also very focused on the local space, where the Patch acquisition of 2009 is crucial. With the Huffington Post, AOL gets a clearer voice and an editorial direction that's been lacking.
While all the individual blogs will still have an independent voice, AOL wants to build up its brand as the place for great and trustworthy content. This will mean that the content will get a wider distribution, the Huffington Post will get access to all of AOL's existing blogs, and better integration between all of the properties.
"This is truly a merger of visions and a perfect fit for us," Arianna Huffington said. "The Huffington Post will continue on the same path we have been on for the last six years – though now at light speed – by combining with AOL."