Breaking News! AOL has acquired the hugely popular political blog – The Huffington Post for a whopping $315 million, all in cash! As Amit points out, AOL now owns the world’s most popular tech blog (TechCrunch), political blog (HuffPo) and gadget blog (Engadget). Not to forget other medium-sized blogs like Download Squad, Stitched etc.
As part of the deal, Huffington Post co-founder Arianna Huffington will be appointed editor-in-chief of all of AOL’s content. She will not only run The Huffington Post, but will lead AOL’s news, tech, women, local, multicultural, entertainment video and community content businesses in an AOL entity that will be known as the Huffington Post Media Group. Even Engadget and TechCrunch will come under her!
Consolidation in Blogosphere
Blogging is a serious business now. Gawker found that and used it first. Now AOL is playing the game as well. First, they bought Engadget for around $25 million and then TechCrunch for a rumored amount of $40 million. Bloggers and general public around the world went gaga over the big money that comes with big blogs. Now, Arianna Huffington has landed herself a whopping $315 million! There is some serious money in blogging.
Gawker, Demand Media and Weblogs Inc (subsidiary of AOL) are the biggest blogging media houses in the world. Gawker is considered to be bigger than Weblogs Inc and now with the acquisition of Huffington Post, AOL has put their biggest stride forward. We can expect more mergers and buy-outs in the blogging space in the near future, specially from the silent beasts like MSNBC & Yahoo.
So, who’s next? Mashable may be![via]Huffpost