There won’t be many of you who haven’t heard about The Huffington Post, the lifestyle and news website that has a huge amount of followers. There’s big news today as it seems that AOL is to acquire The Huffington Post at a cost of $315 million.
A statement from AOL announcing the move states that this would mean the foundation of a media group that will have a reach of 270 million people worldwide with a base of 117 million monthly visitors in the U.S. alone, according to a Reuters report by Anthony Boadle. It’s no secret that AOL has been struggling somewhat lately with a drop in advertising sale and overall revenue down.
This would seem to be a bold move on AOL’s part but could certainly pay off and what’s more, The Huffington Post’s co-founder, Arianna Huffington, stated on her blog that the new Huffington Post Media Group will see her at the helm as president and editor-in-chief of combined content from both sites. Official approvals still need to take place but the move is set to go through in either late Q1 or early Q2.
For more about this there’s an interesting article by Emma Barnett on The Telegraph who reports on some of the mixed reactions to this acquisition from such eminent people as Twitter co-founder Biz Stone, Facebook COO Sheryl Sandberg and AOL co-founder Steve Case. What are your thoughts on this move from AOL? Do you think it can only improve AOL’s fortunes? Why not let us know with your comments.