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This qualifies to be 'Breaking News'. AOL Inc has announced that it has decided to acquire online news hub, The Huffington Post for Us $315 million.
A joint release issued by both the companies today said approximately $300 million of this will be paid in cash funded from cash on hand.
The Huffington Post is privately owned by its two cofounders, as well as a group of investors. "This is truly a merger of visions and a perfect fit for us," said Huffington. "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.
Huffington continued, "By uniting AOL and The Huffington Post, we are creating one of the largest destinations for smart content and community on the Internet. And we intend to keep making it better and better."
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