The deal “will create a next-generation American media company with global reach that combines content, community, and social experiences for consumers,” AOL CEO Tim Armstrong said in a statement announcing the deal early Monday.You'll now get voice-activated directions from MapQuest. It'll sound strangely like Zsa Zsa Gabor.
Founded in 2005, Huffington Post is owned by Arianna Huffington, Kenneth Lerer and a group of other investors. AOL will pay $300 million of the purchase price in cash.
Arianna Huffington will be named president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL content, including Engadget, TechCrunch, MapQuest, Patch and more.
Monday, February 07, 2011
Who Knew Hate Cost So Much?
Honestly, I didn't even realized AOL was still in business. Now they've purchased the hate site Huffington Post in a quest to spread lies an misinformation to a wider audience.
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My first response to this announcement was to cancel my AOL account; wonder how many others will do the same. AOL has become a non-player and this move will not help.
I get the feeling if I wrote 'Air America' on the back of a grocery store reciept, the brain trust at AOL would suddenly want to offer me ungodly sums of money for it...
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