NEW YORK (AP) — AOL has completed its $315 million purchase of the online news hub The Huffington Post.
AOL Inc., a pioneer in dial-up Internet access, is trying to rebuild itself as a purveyor of online news and other content. It is the largest purchase the company has made under CEO Tim Armstrong, a former Google advertising executive hired by AOL to engineer a turnaround.
Huffington Post is one of the top 10 current events and global news sites, with over 27 million U.S. visitors each month. The website combines original reporting with stories aggregated from other news outlets.
The deal also adds Huffington Post co-founder Arianna Huffington, who will run AOL's expanding online media operations, which include popular technology sites Engadget and TechCrunch and online mapping service MapQuest.