CC33

Would you like to react to this message? Create an account in a few clicks or log in to continue.

CC33


2 posters

    AOL Buys Huffington Post For $315 Million

    Marc™
    Marc™
    …is a Chamber DEITY.
    …is a Chamber DEITY.


    Male
    Join date : 2010-01-30
    Location : Michigan
    Posts : 12006
    Rep : 212

    AOL Buys Huffington Post For $315 Million Empty AOL Buys Huffington Post For $315 Million

    Post by Marc™ Mon Feb 07, 2011 4:47 pm

    AOL Buys Huffington Post For $315 Million
    Dan Frommer | Feb. 7, 2011, 12:06 AM


    AOL just bought Huffington Post for $315 million, All Things D reports.

    Arianna Huffington will become AOL's editor in chief, in charge of "All Huffington Post and AOL Content, Including News, Tech, Women, Local, Multicultural, Entertainment, Video, Community, and More."

    The price is $300 million in cash, $15 million of stock.

    At first glance, this looks like a great buy. AOL will get a much-needed editorial voice, and another huge content portal -- this one with cachet among younger and more progressive readers.

    As for how the deal happened... Kara Swisher reports that Huffington and AOL CEO Tim Armstrong "started talking in early November of last year at the Quadrangle Conference in New York and continued their discussions through the holidays. Armstrong made the official offer to Huffington by phone in January, while she was at the World Economic Forum in Davos, Switzerland and he was snowed in in New York."

    Swisher says HuffPo expects about $65 million in sales this year, so the deal was roughly a 5X multiple.

    HuffPo CEO Eric Hippeau will leave, as will ad boss Greg Coleman, but the rest of the staff is moving over to AOL with Huffington, Swisher says.

    The transaction is expected to close late this quarter or early next quarter.

    Source: http://www.businessinsider.com/aol-buys-huffpo-for-315-million-2011-2#ixzz1DJejxZjo
    Jason B.
    Jason B.
    …is a Power Member.
    …is a Power Member.


    Male
    Join date : 2010-02-11
    Posts : 2967
    Rep : 70

    AOL Buys Huffington Post For $315 Million Empty Re: AOL Buys Huffington Post For $315 Million

    Post by Jason B. Wed Feb 09, 2011 3:10 am

    AOL is doing everything it can to stay relevant or be connected to something that is. AOL destroys their acquisitions to make them fit more in with THEIR design structure. That spells the near ending of Huffington.

      Current date/time is Fri Nov 22, 2024 3:03 pm